IBC specifies that the Limitation Act, 1963 (the Limitation Act ) is
applicable to proceedings under the IBC. Therefore, an application under
Section ... 238A of the IBC only
applies to proceedings before the Adjudicating Authority under the IBC and
to proceedings under the IBC before the NCLT, NCLAT
refer the matter for arbitration had been raised on the
ground of limitation. According to the respondent, these Purchase Orders
were all of the year ... that the petitioner Company went into the
process of insolvency under the IBC Code and an IRP had been appointed by
the NCLT, New Delhi
purpose of section 14 of the Limitation Act.
43. A purposive interpretation of section 14 of the Limitation Act
was also given ... context of proceedings under
Section 7 or 9 of the IBC, Section 14 were to be
interpreted with rigid and pedantic adherence to its
literal
after the
admission of the application filed invoking Section 7 of the IBC. Hence, we do not find
any application in the abovesaid judgment ... considering the facts of the case and invoking
Section 14 of the Limitation Act, 1963, we grant a further period of six weeks to
respondents
respondent having already initiated proceedings before the NCLT under the IBC,
the present proceedings declaring the petitioners as wilful defaulters is grossly
erroneous ... submission of the learned counsel that the impugned
order is barred by limitation, as the company was declared as NPA in the year
Unknown vs Applicant Is The Plaintiff. ...
Author: M.Govindaraj
Bench: M.Govindaraj
A.Nos.9182
