Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Limitation For Filing Application Under IBC Is Three Years If No Extension Is Sought, Even If Such Application Is Filed Based On Court's Decree: NCLAT
Insolvency & Bankruptcy CodeOther Legal Matters
The NCLAT has ruled that the "limitation for filing an application under the IBC is three years, even if such application is filed based on a court's decree." The tribunal's decision clarifies a key procedural aspect of the IBC. The ruling reinforces the principle that the limitation period begins from the date of the default and not from the date of the court's decree.
