Proceedings before the DRT & other forums will not get the benefit of extending the limitation period merely on the basis of pending proceedings before the DRT- Corporation Bank vs. M/s SJN Energy Infrastructure Pvt. Ltd. – NCLAT

NCLAT held that we are of the firm opinion that the proceedings before the DRT and other forums, will not get the benefit of extending the limitation period merely on the basis of pending proceedings before the DRT. In this regard, it is unequivocal and settled law that the IBC is a complete Code and as per Section 238 of IBC it has overriding effect on other laws. Therefore, pending proceedings before other forums, the limitation will not get extended.

Proceedings before the DRT & other forums will not get the benefit of extending the limitation period merely on the basis of pending proceedings before the DRT- Corporation Bank vs. M/s SJN Energy Infrastructure Pvt. Ltd. – NCLAT Read Post »