Balance Sheet Acknowledgment & COVID Limitation Extends Limitation Against Guarantor: NCLAT  

UCO Bank Vs Poddar Mech Tech Services Pvt. Ltd. (NCLAT Delhi) The appeals were filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) against orders dated 16.07.2024 passed by the Adjudicating Authority dismissing applications filed under Section 7 of the Code against two corporate guarantors of the principal borrower, Ankit Metal & Power Ltd. The Adjudicating Authority had dismissed the applications as time-barred. There was a delay of 65 days in refiling the appeals before the Appellate Tribunal. The explanation was that the authorised representative was on leave and re...