dismissing the appeal on the
ground of limitation. Furthermore, when an appeal is barred by limitation,
14
“ Limitation Act ”
8
PART B
the court cannot ... against an order of the NCLT under the IBC. The provisions of the IBC,
Companies Act, Limitation Act, NCLT Rules and the NCLAT Rules have
There is no specific period of limitation prescribed in the
Limitation Act, 1963 for an application under the IBC before the NCLT.
An application ... Schedule to
the Limitation Act . Under Article 137 of the Schedule to the Limitation
Act , the period of limitation prescribed for such an application
trigger point of limitation and the
period of limitation for an application for initiating of CIRP
under Section 9 , IBC would be three years from ... application under Section 9 , IBC, despite the
combined reading of Section 238A, IBC and the provisions
under the Limitation Act what is legally available
provisions of the Limitation Act to submit
that in order to apply Article 137 of the Limitation Act , other provisions of
Limitation ... Period of
Limitation is three years as prescribed in Article 137 of the
Limitation Act .
23.5. Limitation Act, 1963 Part I deals with the short
Period of Limitation is
three years as prescribed in Article 137 of the Limitation Act .
23.5. Limitation Act, 1963 Part I deals with the short ... Limitation. This was challenged before NCLAT and this Tribunal
had held that Limitation would run only from 01st December, 2016
when IBC came into force
Schedule to
the Limitation Act, 196311, which prescribes
limitation of 12 years; and (b) that though the
limitation to file an application under Section ... IBC
in the year 2018 i.e., 02 years after IBC
came into force. The mala fide intention to
initiate proceedings under IBC also
Corporate Debtor under
Section 31 IBC on 07.04.2022. In terms of Section 61(2) IBC, the limitation
period of 30 days for filing an appeal ... excluded from the limitation period under section
12(2) of the Limitation Act. Thus, this decision underscores the IBC’s objective
of ensuring timely resolution
IBC for rejecting the application filed under Section 7 of
IBC as being barred by limitation which we have seen
above has been dismissed ... starting point of limitation. Subsequent
38
negotiations or offers would not extend limitation.
Adverting to Section 18 of the Limitation Act, 1963,
Supreme Court held
computation of limitation periods under the IBC. It was
held that under section 61(2) IBC, the limitation period for
filing an appeal ... excluded from the
limitation period under section 12(2) of the Limitation Act.
Thus, this decision underscores the IBC's objective of
ensuring timely
that, by not applying Section 18 of the
Limitation Act to the IBC, recoveries will not be thwarted. He also added
that the main plank ... limitation period,
the Committee thought it fit to insert a specific
section applying the Limitation Act to the Code. The
relevant entry under the Limitation
