Section 10 IBC application remains maintainable despite filing after the 180-day abatement period under the repeal law.

The 180-day period in the amended Section 4(b) of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 applies only to a company whose appeal, reference or inquiry has abated, enabling a reference to the NCLT without payment of fees. It does not bar an independent application under Section 10 of the Insolvency and Bankruptcy Code, 2016 merely because it was filed after that period. Applying the earlier tribunal view on the same issue, the rejection based on limitation was unsustainable and the Section 10 application remained maintainable.

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Issues: Whether an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 was barred merely because it was filed after 180 days from the abatement of the pending reference under the Sick Industrial Companies (Special Provisions) Repeal Act, 2003.

Analysis: The 180-day period introduced by the amendment to Section 4(b) of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 operates only for a company whose appeal, reference or inquiry has abated to make a reference to the National Company Law Tribunal without payment of fees. It does not create a prohibition against filing an independent application under Section 10 of the Insolvency and Bankruptcy Code, 2016 after that period. The earlier tribunal decision on the same question was applied, and the impugned rejection based on limitation could not stand.

Conclusion: The application under Section 10 was maintainable even though it was filed after 180 days, and the rejection on that ground was set aside.

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