IBC overrides Limitation Act; cannot condone delay beyond 45 days: NCLAT

In a judgment passed on January 12, the NCLAT refused to condone a delay of 55 days in filing of appeal by the appellant-company, Platinum Rent A Car.

The National Company Law Appellate Tribunal (NCLAT), Chennai recently ruled that the Insolvency and Bankruptcy Code (IBC) is a "self-contained and in built legislation," and provisions of the Limitation Act must give way to the limitation period prescribed under IBC [M/s Platinum Rent A Car v M/s Quest Offices].

Want to read the full story?

We’re glad you’re enjoying this story. Subscribe to any of our plans to continue reading the story.

Already have an account? Sign In
Bar and Bench - Indian Legal news