Appeals allowed: Section 95 petitions to initiate PIRP against guarantors held not time-barred after COVID suspension excluded

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....The NCLAT allowed the appeals and set aside the NCLT orders, holding the two Section 95 petitions by the appellant/financial creditor to initiate PIRP against anonymized guarantors were not time-barred. The Tribunal clarified that the date of default stated in the petition indicates a fact of cause of action but need not be the terminus a quo for limitation, which is fact-specific. It held 20.11.2018 as the relevant terminus a quo, excluded the COVID suspension period (15.03.2020-28.02.2022) for computation, and concluded limitation extended into 2024. Consequently the petitions filed in November and December 2022 fell within the extended limitation period.....