Limitation Period Under IBC Must Be Strictly Construed, Says Supreme Court: Khaitan & Co. Analysis

The Legal Library section collates quality and in-depth reports on regulatory developments, court rulings and policy changes authored by India’s top law firms and consultants. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of law and policy..Khaitan & Co. Update.Aggrieved by the order of the National Company Law Appellate Tribunal refusing to condone a delay of 44 days in filing an appeal against the order passed by the National Company Law Tribunal, the National Spot Exchange Ltd. preferred an appeal before the Supreme Court of India. The division bench of the apex court, however, dismissed the appeal stating, inter alia, that the limitation provisions in a special statute (such as the Insolvency and Bankruptcy Code 2016, in the instant set of facts) would not only have to be construed strictly, but would also override conflicting provisions, if any, of the Limitation Act 1963. Therefore, the court upheld the order of the NCLAT..Click on the attachment to read the full report:.DISCLAIMERThis alert does not constitute legal advice and is for information purpose only. This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Limitation Period Under IBC Must Be Strictly Construed, Says Supreme Court: Khaitan & Co. Analysis

Limitation Period Under IBC Must Be Strictly Construed, Says Supreme Court: Khaitan & Co. Analysis

Choose a plan