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Filing of an application u/s. 7 of IBC after 9 years of cause of action is barred by limitation: NCLAT Delhi
Case Law Details
- Case Name
- Atul Nathalal Patel Vs Manish Pardasani (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
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- NCLAT
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Atul Nathalal Patel Vs Manish Pardasani (NCLAT Delhi)
NCLAT Delhi held that the cause of action for filing the under section 7 of the Insolvency and Bankruptcy Code arose on 16.12.2010, whereas, filing of an application in the year 2019 is hopelessly barred by time.
Facts- This Appeal has been filed challenging the Order dated 25.07.2023 passed by the Learned Adjudicating Authority (National Company Law Tribunal, Mumbai Bench – IV) admitting a Section 7 Application filed by the Respondents No. 1 to 3 herein. The Appellant, Suspended Director of the Corporate Debtor, Atul Pro...
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