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Section 238a of ibc

Web9 Apr 2024 · The Supreme Court has interpreted Section 238A as intended, by making all provisions of the Limitation Act, as applicable, available to proceedings under the IBC. The … Web20 Jun 2024 · 4. Section 238A of IBC, 2016 applies to the entire provisions of IBC, 2016 and as such Article 136 of the Limitation Act, 1963 also applies to an Application filed under Section 95 of IBC, 2016. In the said circumstances, as per Section 3 of the Limitation Act, 2013, even Court / Tribunal is required to examine the debt on the point of ...

Acknowledgment of Debts in Balance Sheet as Afresh Limitation

Web21 Jul 2024 · Section 238 of IBC reads as “Provisions of this Code to override other Laws, which states that the provisions of this Code shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any such Law”[1] Web11 Oct 2024 · II. Full text of the judgement. JUDGMENT. R.F. NARIMAN, J. 1.The present appeals are concerned with Section 238A of the Insolvency and Bankruptcy Code, 2016 (“Code”), which was inserted by the Insolvency and Bankruptcy Code (Second Amendment) Act, 2024 with effect from 06.06.2024.The said Section is as follows: sacoche tn https://ciclosclemente.com

A Study on Section 238 of IBC, 2016 – By Ms. Parul Sardana

Web1 Jul 2024 · Finally, the legislature cleared up the uncertainties and inserted Section 238A in the Code by IBC Amendment, 2024 w.e.f 06.06.2024, which made the provisions of Limitation Act applicable to the proceedings and appeals before Adjudicating Authority, NCLAT and Debt Recovery Tribunal. Web3 Dec 2024 · The judgment arose from a batch of cases in which NCLAT held that Limitation Act does not apply to applications made under section 7 and section 9 of IBC from the date of commencement of IBC (i.e. 1 December 2016) until the date on which the IBC was amended to incorporate section 238A of IBC (i.e. 6 June 2024). Web27 Apr 2024 · Section 18 of Limitation Act is applicable to the IBC by virtue of Section 238A of the IBC Relying on the recent judgments of the Supreme Court in Sesh Nath Singh (2024 SCC OnLine SC 244) and Laxmi Pat Surana (2024 SCC OnLine SC 267) , the SC observed that the rationale for introducing Section 238A of the IBC is to make the Limitation Act … sacoche thule velo

A Study on Section 238 of IBC, 2016 – By Ms. Parul Sardana

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Section 238a of ibc

Limits of the Limitation Law and IBC - Vinod Kothari

Web4 Jul 2024 · While this application of the Limitation Act has not been extended to Personal Guarantors per se, an inference can be drawn that it will be extended to personal … Web1 Jul 2024 · Finally, the legislature cleared up the uncertainties and inserted Section 238A in the Code by IBC Amendment, 2024 w.e.f 06.06.2024, which made the provisions of …

Section 238a of ibc

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Web15 Apr 2024 · 67. As observed above, Section 238A of the IBC makes the provisions of the Limitation Act, as far as may be, applicable to proceedings before the NCLT and the NCLAT. The IBC does not exclude the application of Section 6 or 14 or 18 or any other provision of the Limitation Act to proceedings under the IBC in the NCLT/NCLAT. Web21 Apr 2024 · Section 238A of the IBC specifically provides that provisions of Limitation Act shall apply to proceedings before Adjudicating Authority as well as National Company …

WebThe NCLAT ruling would have resulted in increased number of insolvency applications as well as the appeals against them, which is why Section 238A was inserted vide the … Web12 Oct 2024 · Dissatisfied by the order of the NCLT, NSEL sought to appeal before the NCLAT. However, there was a delay of 44 days beyond the maximum period for appeal prescribed under section 61 (2) of the IBC. The NCLAT, citing its lack of jurisdiction over condonation of delay beyond the maximum period specified in the statute, dismissed the …

Web7 Jun 2024 · On 11.08.2024, Ld. National Company Law Appellate Tribunal (“NCLAT”) in the Neelkanth judgment held that the provisions of the Act do not apply in the IBC proceedings. However, the Second Amendment to the IBC which was enacted on 17.08.2024, added Section 238A in the IBC. Web5 Apr 2024 · In summation, Sesh Nath Singh substantially deals with the interpretation of section 238A, as much as it underscores its bare application. Moving forward from the NCLAT’s absurd interpretations in the provision’s inaugural stage, the Court has moved on to dealing with its constructional intricacies. ... Purpose of the IBC act is to ...

Web9 Feb 2024 · In a batch of matters, the Hon’ble NCLAT held that the Act does not apply to applications made under the Code from the date of commencement (i.e. 01.12.2016) till the date on which section 238A was inserted (i.e. 06.06.2024).

Web13 Dec 2024 · Section 238A of the Insolvency and Bankruptcy Code 2016 (IBC) makes the provisions of the Limitation Act 1963 applicable, "as far as may be", to proceedings or … sacoche the blendWeb31 Aug 2024 · The Limitation period has been made applicable by insertion of section 238A in the IBC. The earlier view was that this would be applicable only for cases arising after the amendment. But the Supreme Court has clarified that this would be applicable to old cases as well. But like any other suit, limitation period can be condoned by the ... is hrothgar a good leaderWeb3 Apr 2024 · 238A. The provision of the Limitation Act, 1963 shall, as far as may be, apply to the proceedings or appeal before the Adjudicating Authority, the National Company Law … sacoche tommy jeans