https://www.taxtmi.com/caselaws?id=352185 The Insolvency and Bankruptcy Code, 2016 was treated as a complete and self-contained insolvency regime with its own time-bound framework, so the Limitation Act, 1963 was held inapplicable to initiation of corporate insolvency resolution proceedings. Sections 7, 9 and 10 applications were therefore not to be rejected merely as time-barred under the general limitation law. Section 60(6) was read as reflecting the Code's own exclusion mechanism, while Section 433 of the Companies Act, 2013 and limitation rules under the RDDBFI Act and SARFAESI Act were held not to govern such initiation. In stale-claim situations, delay and laches may be examined, but not by applying the Limitation Act. en-us Tue, 07 Nov 2017 00:00:00 +0530 Fri, 11 May 2018 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352185 The Insolvency and Bankruptcy Code, 2016 was treated as a complete and self-contained insolvency regime with its own time-bound framework, so the Limitation Act, 1963 was held inapplicable to initiation of corporate insolvency resolution proceedings. Sections 7, 9 and 10 applications were therefore not to be rejected merely as time-barred under the general limitation law. Section 60(6) was read as reflecting the Code's own exclusion mechanism, while Section 433 of the Companies Act, 2013 and limitation rules under the RDDBFI Act and SARFAESI Act were held not to govern such initiation. In stale-claim situations, delay and laches may be examined, but not by applying the Limitation Act. Case-Laws Insolvency and Bankruptcy Tue, 07 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352185