NCLAT Clarifies Computation Of Limitation Under Section 61 Of IBC When Last Day Falls On A Holiday

The NCLAT has clarified the computation of limitation under Section 61 of the Insolvency and Bankruptcy Code (IBC) when the last day falls on a holiday. The tribunal provided guidance on how to calculate the limitation period, ensuring that parties are not prejudiced by holidays. This decision provides clarity on procedural matters and ensures fair application of the IBC.