The IBC is not just another statute for recovery of debts, says SC
Last updated: 07 August 2021
Court :
SUPREME COURT OF INDIA
Brief :
This Appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) is against a judgment and final order dated 18th December 2019 passed by the National Company Law Appellate Tribunal (NCLAT), allowing Company Appeal (AT) (Insolvency) No.407 of
2019, filed by the Respondents and setting aside an order dated 21st Section 7 of the IBC. The NCLAT held that the said Petition of the Appellant Bank under Section 7 of the IBC, was barred by limitation. The Respondent No.1 is a Director of the Corporate Debtor.
March 2019 passed by the Adjudicating Authority/National Company.
Law Tribunal (NCLT), Bengaluru, whereby the Adjudicating Authority had
admitted the Petition being CP(IB) No.244/BB/2018 filed by the
Appellant Bank against the Respondent No.2 (Corporate Debtor) under
Citation :
CIVIL APPEAL NO.1650 OF 2020
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Poojitha Raam Vinay 
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