Supreme Court · 2022 INSC 428 · Decided 18 April 2022
State Bank of India v. Krishidhan Seeds Private Limited
- Court
- Supreme Court of India
- Citation
- 2022 INSC 428 · [2022] 2 S.C.R. 1155
- Case number
- CIVIL APPEAL No. 910/2021
- Decided
- 18 April 2022
- Bench
- D.Y. CHANDRACHUD, SURYA KANT (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Limitation Act Section 18; IBC Section 7; SARFAESI Act
Headnote
Insolvency and Bankruptcy Code 2016 - s.7 - Limitation Act, 1963 - s.18 - Applicability of - Default, acknowledgment in balance sheet of company - Proceedings under IBC - Limitation - Appellant filed application for initiation of Corporate on the ground that the respondent defaulted in paying the financial debt - Date of default was mentioned as 10.06.14, when the respondent's account was declared as a Non-Performing Asset (NPA) - Application rejected by NCLT on ground of limitation observing that the account was
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