NCLAT Chennai Dismisses Appeal Against CIRP Initiation for Agricultural Loan Default — Limitation Period for Section 7 Application Computed from Date of Default in Repayment Schedule, Not from Date of NPA Classification. The date of default under Section 7 of IBC is the date when the debt became due as per the repayment schedule, and the application filed within three years from the last repayment schedule is within limitation.
30 Nov -0001The appeal was filed by Kurien Thomas, the suspended director of Koravampady Estates and Enterprises Private Limited (the Corporate Debtor), against t...
