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The National Company Law Appellate Tribunal (NCLAT) has held that proceedings before the Debt Recovery Tribunals (DRT) under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) etc will not extend the period of limitation for the purpose of the Insolvency & Bankruptcy Code, 2016. (Bimal Kumar vs BOI)
The Judgment was passed by a three-member Bench of Member (Judicial) Venugopal M, Members (Technical) Kanthi Narhari and VP Singh.