Exclusion of period of automatic suspension as per the provisions of Section 22(5) of SICA – Mazda Agencies Vs. Hemant Plastic & Chemicals Limited – NCLT Ahmedabad
There could be a situation where the creditor participates in the rehabilitation scheme/enquiry and remains part of such proceedings till end. In case, some claim is settled and if he accepts such settlement/ scheme, he will get money according to the contours of such scheme. After the implementation of scheme, he will not get any benefit of such exclusion again to institute a suit because such right gets forfeited after implementation of scheme.
