{"id":235149,"date":"2020-09-01T11:05:35","date_gmt":"2020-09-01T05:35:35","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=235149"},"modified":"2020-09-11T11:57:32","modified_gmt":"2020-09-11T06:27:32","slug":"nclat-whether-provisions-of-limitation-act-1963-vide-s-238a-of-ib-code-2016-will-be-applicable-to-all-npa-cases-or-not-tribunal-answers","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/01\/nclat-whether-provisions-of-limitation-act-1963-vide-s-238a-of-ib-code-2016-will-be-applicable-to-all-npa-cases-or-not-tribunal-answers\/","title":{"rendered":"NCLAT | Whether provisions of Limitation Act, 1963 vide S. 238A of I&#038;B Code, 2016 will be applicable to all NPA cases or not? Tribunal answers"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>National Company Law Appellate Tribunal (NCLAT):\u00a0<\/strong>Full Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Justice Anant Bijay Singh (Member, judicial) and Dr Ashok Kumar Mishra (Member, Technical), made an observation in determining<\/p>\n<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #800080;\">Whether<\/span> <span style=\"color: #800080;\">the provisions of the Limitation Act, 1963 vide Section 238A of the I&amp;B Code, 2016 will be applicable to all NPA cases or not?<\/span><\/p>\n<\/blockquote>\n<p style=\"text-align: justify;\">Appellant, suspended Managing Director of the Sarda Agro Oils Limited filed the present appeal under Section 61 read with Section 7 of the Insolvency and Bankruptcy Code, 2016 and Rule 4 of the Insolvency and Bankruptcy <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">(Application to Adjudicating Authority) Rules, 2016 against the impugned order passed by NCLT, Hyderabad.<\/span><\/p>\n<p style=\"text-align: justify;\">By the present appeal, the appellant sought setting aside the ex-parte order of NCLT, Hyderabad apart from the stay of Insolvency Proceeding against the Corporate Debtor, etc.<\/p>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"text-align: justify;\">Appellant has attached the Companies list of Debtors and receivable alongwith action for its recovery. <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">A look at the \u2018Balance Sheet\u2019 reveals that the Company has started making losses from the \u2018Financial Year\u2019 2014-15.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">Appellant failed to appear before the adjudicating authority after repeated notice.<\/p>\n<p style=\"text-align: justify;\">Further, the adjudicating authority admitted the case based on some payments made by the appellant-corporate debtor into the current account of the respondent bank inspite of Non-Performing Asset on 30-09-2015.<\/p>\n<p style=\"text-align: justify;\">Respondent-Bank made an observation that when this Appellate Authority was hearing the matter on 07-02-2020, it had already observed: <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">\u201cthe only issue that deserves consideration in this matter is whether the Application under Section 7 of the I&amp;B Code, 2016 filed by the Respondent Bank was within the period of limitation\u201d.<\/span><\/p>\n<p style=\"text-align: justify;\">Bench stated that the determining factor is the three years period from the date of default\/NPA. Appellate Tribunal had also observed in <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\"><em>Rajendra Kumar Tekriwal v. Bank of Baroda<\/em> in Company Appeal (AT) (Ins) No. 225 of 2020 dated 13-08-2020 that the <span style=\"color: #0000ff;\">period of three years from the date of the Account of Corporate Debtor is classified as NPA then it becomes impermissible to proceed with Section 7 Application<\/span> as observed in the para 11 of the Judgment.<\/span><\/p>\n<p style=\"text-align: justify;\">Further, the tribunal reiterated that <span style=\"color: #800080;\">the provisions of the Limitation Act, 1963 vide Section 238A of the I&amp;B Code, 2016 will be applicable to all NPA cases provided they meet the criteria of Article 37 of the Schedule to The Limitation Act, 1963.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #800080;\">Extension for the period of limitation can only be done by way of application of Section 5 of The Limitation Act, 1963 if any case for the condonation of delay is made out.<\/span><\/p>\n<p style=\"text-align: justify;\">Therefore, in view of the above, the present appeal was allowed and the impugned order was set aside. Consequently, <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">orders passed by the Adjudicating Authority appointing IRP\/RP, declaring moratorium, freezing of account, etc. and all consequential action was taken by IRP\/RP including advertisement publication, etc. all such orders and actions are declared illegal and set aside.<\/span><\/p>\n<p style=\"text-align: justify;\">Adding to the above, tribunal also stated that the <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">Adjudicating Authority will now close the CIRP proceedings and fix the fee of IRP\/RP and the Corporate Debtor will pay the fees of IRP\/RP and other costs incurred by him. <\/span><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\">[Jagdish Prasad Sarada v. Allahabad Bank, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/yhh22Tf0\"><b>2020 SCC OnLine NCLAT 621<\/b><\/a>, decided on 28-08-2020]<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>National Company Law Appellate Tribunal (NCLAT):\u00a0Full Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Justice Anant Bijay Singh (Member, judicial) and <\/p>\n","protected":false},"author":8808,"featured_media":153604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[43303,30361,24144,12521,14121,43304],"class_list":["post-235149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-debtors","tag-ibc","tag-limitation-act","tag-nclt","tag-non-performing-assets","tag-section-238a-ib-code"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NCLAT | Whether provisions of Limitation Act, 1963 vide S. 238A of I&amp;B Code, 2016 will be applicable to all NPA cases or not? 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(Judicial Member), Justice Anant Bijay Singh (Judicial Member), Kanthi Narahari (Technical Member) and Shreesha Merla (Technical member), while addressing the present matter observed that: \"...for purpose of computing the\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":356865,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/08\/18\/nclat-3-year-limitation-period-for-section-95-ibc-application\/","url_meta":{"origin":235149,"position":1},"title":"Limitation period of S.95 IBC applications against personal guarantor based on DRT recovery certificate is three years: NCLAT","author":"Editor","date":"August 18, 2025","format":false,"excerpt":"The appellant relying on Tottempudi Salalith v. State Bank of India, (2024) 1 SCC 24, contended that the limitation for filing Section 95 IBC application in the present case must be treated as 12 years and hence the application filed was not barred by time.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Limitation period for Section 95 IBC application","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/08\/Limitation-period-for-Section-95-IBC-application.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/08\/Limitation-period-for-Section-95-IBC-application.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/08\/Limitation-period-for-Section-95-IBC-application.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/08\/Limitation-period-for-Section-95-IBC-application.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":199784,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/08\/06\/insolvency-and-bankruptcy-board-of-india-not-an-aggrieved-person-has-no-locus-standi-to-file-appeal-under-section-61-ib-code-nclat\/","url_meta":{"origin":235149,"position":2},"title":"IBBI not an \u2018aggrieved person\u2019; has no locus standi to file appeal under Section 61 I&#038;B Code: NCLAT","author":"Bhumika Indulia","date":"August 6, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial), while dismissing an appeal filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 held that Insolvency and Bankruptcy Board of India had no locus standi to\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":200631,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/08\/25\/limitation-on-initiation-of-process-by-financial-creditor-to-be-counted-from-the-date-when-section-7-ib-code-came-into-force-nclat\/","url_meta":{"origin":235149,"position":3},"title":"Limitation on initiation of \u2018process\u2019 by financial creditor to be counted from the date when Section 7 I&#038;B Code came into force: NCLAT","author":"Bhumika Indulia","date":"August 25, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) dismissed an appeal filed against the order of the National Company Law Tribunal whereby the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 preferred by\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":249957,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/18\/interplay-of-ib-code-with-law-on-limitation-the-consistent-inconsistency-part-iii\/","url_meta":{"origin":235149,"position":4},"title":"Interplay of IB Code with Law on Limitation \u2013 The Consistent \u201cInconsistency\u201d \u2013 Part III","author":"Bhumika Indulia","date":"June 18, 2021","format":false,"excerpt":"by Akaant Kumar Mittal\u2020 Cite as: 2021 SCC OnLine Blog Exp 46","rel":"","context":"In &quot;Akaant Mittal&quot;","block_context":{"text":"Akaant Mittal","link":"https:\/\/www.scconline.com\/blog\/post\/category\/experts_corner\/individual\/akaant-mittal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/06\/MicrosoftTeams-image-40.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/06\/MicrosoftTeams-image-40.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/06\/MicrosoftTeams-image-40.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/06\/MicrosoftTeams-image-40.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/06\/MicrosoftTeams-image-40.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":199742,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/08\/06\/insolvency-and-bankruptcy-code-2016-prevails-over-sarfaesi-act-2002-nclat\/","url_meta":{"origin":235149,"position":5},"title":"Insolvency and Bankruptcy Code, 2016 prevails over SARFAESI Act, 2002: NCLAT","author":"Bhumika Indulia","date":"August 6, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. 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