Section 14 of the Limitation Act cannot be applied to dilute the implication of limitation contained under Section 61 of IBC – Kalyan Muppaneni Vs. K. Computers and Anr. – NCLAT Chennai

The Hon’ble NCLAT held that it could be said that the provisions of the Limitation Act as contemplated to be applied by Section 238A of I & B Code 2016, is general in its applicability and will not cover those provisions where the aspect of Limitation itself, has been self-contained and, hence it cannot be utilized where the limitation is independently prescribed under Section 61, particularly when the legislation intends that the proceedings held under the I & B Code, have to be decided within a specified time frame.

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

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