The rules of limitation, prescribe that a remedy can be exercised only upto a certain point of time – Southern Power Distribution Company of Telangana Ltd. Vs. CA. Swaminathan Prabhu Liquidator – NCLAT Chennai

NCLAT held that the Rules of Limitation, prescribe that a remedy can be exercised, only upto a certain point of time and not subsequently / later, as the case may be. In reality, the Litigants / Parties / Stakeholders, are to be diligent, and they are not to be an indolent persons, and not to adopt a careless and a negligent attitude, keeping in mind of the fact that speed is the gist of the Code. 2016. In the light of foregoing detailed deliberations and this Tribunal, taking note of the fact that in the present case, the delay, that has occasioned in preferring the instant Appeal, is 79 days, which is beyond the specified period, contemplated under Section 61 of the Code, 2016.

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