section (3)” within
“fourteen days of the receipt of the application”. Mr. Shivshankar
further argued that under Section 7(5) of the IBC ... also agreed that Section 18 of the Limitation Act would apply to
proceedings in the NCLT under Section 7 of the IBC. However
Section 5 of the Limitation Act, 1963?
(ii) Whether Section 14 of the Limitation Act, 1963 applies to
applications under Section 7 of the IBC ... Section 14 or 18 of the Limitation Act,
1963 should not apply to proceeding under Section 7 or Section 9 of
the IBC. Of course
while interpreting the proviso to sub-section (5) of Section 7 , Section 9
or sub-section (4) of Section 10 as well. After ... section (3) of Section 7 , within 14 days of
receipt of an application under sub-section (2) of Section 7 of the IBC
7
25. On 3rd April 2018, the Appellant, as Financial Creditor, filed an
application under Section 7(2) of the IBC in the National Company ... been paid in the full, in the
Application under Section 7 of the IBC, the Appellant claimed that
principal amount
receipt of the application
under Section 7 . As per the proviso to Section 7(4) of the IBC, inserted
by amendment ... Section 7(7) casts an obligation on the Adjudicating
Authority to communicate an order under clause (a) of sub-section (5)
of Section 7
7
show that the debt is not barred by limitation, which they failed to
do.
23. In its application under Section 7 of the IBC ... whether Section
18 of the Limitation Act is attracted in the case of a petition under
Section 7 of the IBC.
36. At the cost
7
show that the debt is not barred by limitation, which they failed to
do.
23. In its application under Section 7 of the IBC ... whether Section
18 of the Limitation Act is attracted in the case of a petition under
Section 7 of the IBC.
36. At the cost
that on a conjoint reading of Section 5(5A) ,
Section 3(7) and Section 3(8) of the IBC, it is apparent that a
Corporate ... financial debt” in Section 5(8) IBC,
“claim” in Section 3(6) , “debt” in Section 3(11) and “default”
in Section 3(12) . There
2020, filed by the Appellant under Section 7
of the IBC with the finding that the Appellant is not a
Signature Not Verified
Digitally signed ... Section 3(12) , ‘financial creditor’ in Section
5(7) as also the provisions, inter alia, of Sections 6 and 7
of the IBC.
16. Under
Holdings Pvt. Ltd., hereinafter referred to as “Doshi Holdings”, under Section 7
of the IBC. The Appellant is a suspended Director of Doshi Holdings ... account of genuine difficulty.
7. On 21st September 2020, the Financial Creditor filed a petition under
Section 7 of the IBC being
