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IBC - Highlights / Catch Notes

Home Highlights February 2023 Year 2023 This

Initiation of CIRP - Claim beyond the period of limitation - The ...

Insolvency and Bankruptcy

February 20, 2023

Initiation of CIRP - Claim beyond the period of limitation - The Adjudicating Authority, exercising powers under Section 7 or Section 9 of IBC, is not a Debt Collection Forum. The IBC tackles and/or deals with Insolvency and Bankruptcy. It is not the object of the IBC that CIRP should be initiated to penalize Solvent Companies for non-payment of disputed dues claimed by an Operational Creditor. - AT

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