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
under IBC, it could
only be taken that it should be governed by the provisions
under the IBC in regard to the period of limitation ... application under Section 9 , IBC, despite the
combined reading of Section 238A, IBC and the provisions
under the Limitation Act what is legally available
acknowledgement of debt for the purpose of extending
limitation under Section 18 of the Limitation Act. After a preliminary hearing,
a three-Member Bench passed ... 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
extending limitation.
51. Mr. Shivshankar argued that it is now well settled that the
Limitation Act applies to proceedings under the IBC. Mr. Shivshankar
also ... Limitation
Act . For example, an acknowledgment of liability under Section
18 of the Limitation Act would certainly extend the limitation
period, but a suit
payable, but
the same was barred by limitation as applicable under IBC. Proceeding
further, the learned senior counsel has referred to the decision rendered ... Limitation Act; and even otherwise, Section 18 of the Limitation Act
cannot revive the “default” relevant for IBC and could only revive limitation
with respect
Forum For Peoples Collective Efforts ... vs The State Of West Bengal on 4 May, 2021
appeal against an order of the NCLT under the IBC. The provisions of the IBC,
Companies Act, Limitation Act, NCLT Rules and the NCLAT Rules ... limitation, Section 238-A of the IBC invokes the
Limitation Act to the extent it is applicable:
“238-A. Limitation.—The provisions of the Limitation
supra) was, as to whether
the petition under Section 7 of the IBC was barred by
limitation, on the sole ground that it had been ... with the
proposition that the period of limitation for
making an application under Section 7 or
9 IBC is three years from the date
Appellant.
(xi) The Application of the Appellant under Section 7 of the IBC is
hopelessly barred by limitation, the same having been filed about
eight ... liability has, in fact, been made, thereby
extending limitation under Section 18 of the Limitation Act.”
37. It was also argued that contrary
other provision of the Limitation Act to proceedings under
the IBC in NCLT/Nclat. All the provisions of the Limitation Act are
applicable to proceedings ... There is no specific period of limitation prescribed in the
Limitation Act, 1963 , for an application under the IBC, before the
Adjudicating Authority (NCLT
