The provisions regarding the evidence of an approver are coming to the fore in a variety of hotly contested sensitive and political cases of late. The legal nuances surrounding the rationale, interpre...
Published On: 01/09/2017
Practice Area: Banking & Finance, Corporate & Commercial, Dispute Resolution
Authors:
Lomesh Kiran Nidumuri
Krutika Raghavan
In a recent judgment, the National Company Law Appellate Tribunal, New Delhi (the 'NCLAT') held that the provisions of the Limitation Act, 1963 (the 'Limitation Act') do not apply to proceedings initiated under the Insolvency and Bankruptcy Code, 2016 (the 'Code'). The judgment will have far reaching consequences as it means that a creditor can sue a corporate debtor under the Code, even though the debt is barred by time.
