Limitation Period under IBC Starts From Date of Judgment Pronounced in Open Court: Supreme Court

The Supreme Court ruled that the limitation period under the IBC (Insolvency and Bankruptcy Code) starts from the date of judgment pronounced in open court. This clarification provides a definitive timeline for initiating insolvency proceedings, linking it to the public pronouncement of the judgment rather than a later date such as when the written order is available. This ruling aims to bring clarity and reduce ambiguity in the commencement of the limitation period under the IBC, ensuring timely resolution of insolvency cases.