Limitation law in insolvency process
The Limitation Act covers applications filed for initiating corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code from its inception in 2016, the Supreme Court has ruled in its judgment in BK Educational Services Ltd vs Parag Gupta Associates. In this batch of appeals, the court was concerned with Section 238A of the code, which was inserted in the second amendment to the code with effect from June 6 this year. According to this, "The provisions of the Limitation Act shall as far as may be, apply to the proceedings before the adjudicatory authority,