Speed is the essence of IBC; time barred debt cannot be resurrected: NCLAT

"The 'Law of Limitation’ being harsh, will affect a `Litigant’, but it has to be pressed into service with all its vigour and rigour," the Appellate Tribunal ruled.

The National Company Law Appellate Tribunal (NCLAT), Chennai recently reiterated the importance of adhering to timelines under the Insolvency & Bankruptcy Code, 2016 (IBC) [The Regional Provident Fund Commissioner EPFO v. Mr. Vasudevan Resolution Professional & Liquidator of M/s. Titanium Tantalum Products Limited].

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