SC dismisses IL&FS Petition against La-Fin on being time-barred

Jignesh Shah & Anr. Vs Union of India & Anr. (Supreme Court of India) SC dismisses IL&FS Petition against La-Fin on being time-barred as trigger of limitation for winding up petition was date of default Conclusion: Winding up petition filed in October 2016 by IL&FS Financial Services Ltd. against La-Fin before the Bombay High Court which was transferred to the NCLT with respect to the alleged default by La-Fin in not complying with its undertaking to buy back 442 lakh equity shares of MCX-SX (a group company of La-Fin) from IL&FS  in August 2012 was time-barred being beyon...