NISHANT
Sections 7 or 9 or 10 IBC and applicability of Limitation Act, 1963
NISHANT MEHROTRA 2 Feb 2018

Sections 7 or 9 or 10 IBC and applicability of Limitation Act, 1963

NCLAT :: in Speculum Plast (P.) Ltd. v. PTC Techno (P.) Ltd.  :: Sections 7 or 9 or 10 IBC read with Limitation Act, 1963 ::


1. Limitation prescribed under the Limitation Act cannot be made applicable to the Code.


2. Only exception to non-applicability of Limitation Act, 1963 is article 137 thereof.


3. To decide question whether a person can claim any amount due from a corporate debtor after long delay on the ground that Limitation Act, 1963 is not applicable, it is necessary to notice the doctrine of limitation and prescription.

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