The case involves a petition under Article 227 of the Constitution of India against an order dated August 19, 2019, passed by the National Company Law Tribunal (NCLT), Kolkata Bench, in a Corporate Insolvency Resolution Process (CIRP) application. The petitioner challenges the NCLT's jurisdiction to pass the impugned order, arguing that the corporate debtor's account was declared a Non-Performing Asset (NPA) on August 6, 2012, and the application was filed after the limitation period. The petitioner relies on Supreme Court judgments regarding the application of the Limitation Act and the date when the right to apply accrues in such cases.
The State Bank of India initiated a Corporate Insolvency Resolution Process (CIRP) against Hanumanta Engineering Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The NCLT, Kolkata Bench, passed an order on August 19, 2019, admitting the application. The corporate debtor's account was declared a Non-Performing Asset (NPA) on August 6, 2012. The petitioner, Gouri Shankar Chatterjee, challenged the NCLT order, arguing that the application was time-barred under the Limitation Act. The petitioner contended that the limitation period began from the date of declaration of NPA, and the application was filed more than three years after that date. The bank asserted that the bar of limitation did not apply because the corporate
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The case involves a petition under Article 227 of the Constitution of India against an order dated August 19, 2019, passed by the National Company Law Tribunal (NCLT), Kolkata Bench, in a Corporate Insolvency Resolution Process (CIRP) application. The petitioner challenges the NCLT's jurisdiction to pass the impugned order, arguing that the corporate debtor's account was declared a Non-Performing Asset (NPA) on August 6, 2012, and the application was filed after the limitation period. The petitioner relies on Supreme Court judgments regarding the application of the Limitation Act and the date when the right to apply accrues in such cases.
The State Bank of India initiated a Corporate Insolvency Resolution Process (CIRP) against Hanumanta Engineering Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The NCLT, Kolkata Bench, passed an order on August 19, 2019, admitting the application. The corporate debtor's account was declared a Non-Performing Asset (NPA) on August 6, 2012. The petitioner, Gouri Shankar Chatterjee, challenged the NCLT order, arguing that the application was time-barred under the Limitation Act. The petitioner contended that the limitation period began from the date of declaration of NPA, and the application was filed more than three years after that date. The bank asserted that the bar of limitation did not apply because the corporate
…The corporate debtor's…
The NCLT, Kolkata Bench, passed an order…
Sign in to view related legal provisions.