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        Case ID :
        Insolvency and Bankruptcy

        Validity of Admission of application for CIRP by the NCLT of the...

        NCLT Allows CIRP Application: OTS Proposal and Debt Acknowledgement Extend Limitation u/s 18 of Limitation Act.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Validity of Admission of application for CIRP by the NCLT of the respondent no. 2 (SBI) after condoning delay and without making the appellant Bank as party - Period of limitation - if the OTS proposals are found to have been made by the Corporate Debtor and the balance sheet reflected the debt in the financial year ending 31st March, 2015, then in fact, there would be no delay on the part of the Respondent No. 2- State Bank of India in initiating the proceeding as the same would be within the extended period of limitation provided under Section 18 of the Limitation Act. - SC
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