https://www.taxtmi.com/caselaws?id=432448 The SC held that the limitation period for filing an application under Section 9 of IBC is three years from the date of default, subject to condonation of delay under Section 5 of the Limitation Act. The statutory bar under Section 22(1) of SICA suspends proceedings during certain periods, but SICA was repealed when IBC commenced. The NCLAT erred in dismissing the Section 9 application solely as time-barred without considering condonation of delay. However, since a pre-existing dispute existed and arbitration proceedings were ongoing pursuant to an arbitration clause, the parties must resolve their disputes through arbitration. The SC dismissed the appeal, leaving the parties liberty to raise all contentions before the arbitrator except the legal issues decided by the Court. en-us Wed, 04 Jan 2023 00:00:00 +0530 Tue, 05 Aug 2025 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432448 The SC held that the limitation period for filing an application under Section 9 of IBC is three years from the date of default, subject to condonation of delay under Section 5 of the Limitation Act. The statutory bar under Section 22(1) of SICA suspends proceedings during certain periods, but SICA was repealed when IBC commenced. The NCLAT erred in dismissing the Section 9 application solely as time-barred without considering condonation of delay. However, since a pre-existing dispute existed and arbitration proceedings were ongoing pursuant to an arbitration clause, the parties must resolve their disputes through arbitration. The SC dismissed the appeal, leaving the parties liberty to raise all contentions before the arbitrator except the legal issues decided by the Court. Case-Laws IBC Wed, 04 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432448