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IBC - Highlights / Catch Notes

Home Highlights June 2023 Year 2023 This

Initiation of CIRP - Period of limitation - Operational ...

Insolvency and Bankruptcy

June 7, 2023

Initiation of CIRP - Period of limitation - Operational Creditors - the date of default is 60 days from 6.1.2020, which is the date of invoice. Counting 60 days from 6.1.2020, we find that the payment was due to be made by 5.3.2020. Thus, it is clear that the date of default is not covered in the period as stipulated in section 10-A of the IBC - NCLT rightly admitted the application - AT

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