Supreme Court Allows Appeal in Insolvency Case Due to Limitation Bar — Winding Up Petition Filed Beyond Three Years from Default Date Cannot Be Revived Under IBC. The Court held that a time-barred winding up petition under the Companies Act, 1956 cannot be treated as a valid Section 7 application under the IBC, and the filing of a suit for specific performance does not extend limitation for a winding up petition.
25 Sep 2019The Supreme Court considered appeals arising from the admission of a winding up petition under the Insolvency and Bankruptcy Code, 2016 (IBC). The pet...
