Non-Compliance With Limitation Period u/s 61 Of IBC: NCLAT Rejects Condonation of Delay Application
The Tribunal also ruled out the COVID-19 defence of the appellant stating that the same is not applicable in this case as the delay started much before the extended time-period
The Chennai bench of the National Company Law Appellate Tribunal ( NCLAT ) dismissed an appeal under Section 61 of the Insolvency and Bankruptcy Code ( IBC ), 2016 and refused to condone delayed application. It was observed that non-Compliance with limitation period under section 61 of IBC. The appeal was filed by the Southern…
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