‘Sufficient Cause’ is the cause for which a party could not be blamed: SC

Sabarmati Gas Limited Vs Shah Alloys Limited (Supreme Court of India) Whether in computation of the period of limitation in regard to an application filed under Section 9, IBC the period during which the operational creditor’s right to proceed against or sue the corporate debtor that remain suspended by virtue of Section 22 (1) of the Sick Industrial Companies (Special Provisions Act, 1985) (SICA) can be excluded, as provided under Section 22 (5) of SICA? When the limitation period for initiating CIRP under Section 9, IBC is to be reckoned from the date of default, as opposed to the date of ...