Limitation Act ) is
applicable to proceedings under the IBC. Therefore, an application under
Section 5 of the Limitation Act may be filed to condone ... 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
noted that the petitioner Company went into the
process of insolvency under the IBC Code and an IRP had been appointed by
the NCLT ... order of appointment of IRP had came to be passed under the IBC Code
which attained its finality on 01.03.2021 by orders
follows:
“95. If, in the context of proceedings under
Section 7 or 9 of the IBC, Section 14 were to be
interpreted with rigid ... bona fide invoking and diligently
pursuing an earlier application under the same
provision of IBC, for the same relief, before an
Adjudicating Authority, lacking territorial
after the
admission of the application filed invoking Section 7 of the IBC. Hence, we do not find
any application in the abovesaid judgment ... aside the order under challenge. However, considering the facts of the case and invoking
Section 14 of the Limitation Act, 1963, we grant a further
year 2015 in
and by which the Directors/individual Guarantors were brought under the
purview to be declared as wilful defaulters and clause 2.6 therein ... that the 1st
respondent having already initiated proceedings before the NCLT under the IBC,
the present proceedings declaring the petitioners as wilful defaulters is grossly
Unknown vs Applicant Is The Plaintiff. ...
Author: M.Govindaraj
Bench: M.Govindaraj
A.Nos.9182
