In case prior proceedings before DRT under SARFAESI Act, 2002 have not ended and are still ongoing, the principle of Section 14 of the Limitation Act will not apply to application under Section 7 of IBC – State Bank of India Vs. Salasar Ispat Ltd. – NCLT Kolkata Bench

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Inherent powers under Rule 11 of NCLT Rules, 2016 cannot be invoked when express provisions have been made in the Regulation 32A of Liquidation Process Regulations, 2016 for levy of interest in case of delayed payments – Sarda Mines Pvt. Ltd. Vs. Shailendra Ajmera Liquidator of Kwality Ltd. – NCLT New Delhi Bench Court-III

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The CIRP period was extended by 90 days by the Adjudicating Authority at the instance of Resolution Professional would not clothe the Appellants with a right to claim consideration of their claims which stage admittedly was over – Madanlal Balmukund Karwa Company Vs. New Phaltan Sugar Works Ltd. &Ors. – NCLAT New Delhi

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