Priority Of Dues Under SARFAESI: Bombay High Court Reiterates

In a significant order passed on June 28, 2023, in the case of Ronak Industries vs.

Filed under:
India, Banking, Insolvency & Restructuring, Litigation, Cyril Amarchand Mangaldas, Recovery of Debts and Bankruptcy Act 1993 (India), Insolvency and Bankruptcy Code (India), Bombay High Court, Supreme Court of India
Authors:
Indranil D Deshmukh , Saloni Kapadia
Location:
India
Firm:
Cyril Amarchand Mangaldas
IBC and Limitation: The Dust Settles

The Supreme Court in the case of Laxmi Pat Surana vs Union Bank of India & Anr. [Civil Appeal No. 2734 of 2020] (“Laxmi Pat”) has settled the issue of the applicability of Section 18 of the Limitation Act, 1963 (“LimitationAct”) to applications for initiation of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (“IBC”).

Filed under:
India, Insolvency & Restructuring, Litigation, Cyril Amarchand Mangaldas, Supreme Court of the United States
Authors:
Animesh Bisht , Saloni Kapadia
Location:
India
Firm:
Cyril Amarchand Mangaldas