The Limitation Period for Initiating the CIRP can be Extended Based on the Acknowledgement of Debt and Issuance of Recovery Certificates
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![The Limitation Period for Initiating the CIRP can be Extended Based on the Acknowledgement of Debt and Issuance of Recovery Certificates](https://static.wixstatic.com/media/d515a3_f14718b5c1454764bd4eae3cf6b04743~mv2.jpg/v1/fill/w_209,h_173,fp_0.50_0.50,q_90,enc_auto/d515a3_f14718b5c1454764bd4eae3cf6b04743~mv2.webp)
![Supreme Court allows Compromise Settlement between Anjani Realtors and Indarprashtha Buildtech to Close CIRP](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- May 16
- 2 min
Supreme Court allows Compromise Settlement between Anjani Realtors and Indarprashtha Buildtech to Close CIRP
![](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
![Acknowledgement of the Debt by the Guarantor Extends the Limitation Period](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
- May 15
- 2 min
Acknowledgement of the Debt by the Guarantor Extends the Limitation Period
![Can time-barred debts be recovered through remedies other than civil suits as per special laws: SC Refers to a 3-judge bench for a comprehensive examination](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- May 15
- 3 min
Can time-barred debts be recovered through remedies other than civil suits as per special laws: SC Refers to a 3-judge bench for a comprehensive examination
![](https://static.wixstatic.com/media/d515a3_0aac6e7a36ec461e9d747ca6eae09211~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_0aac6e7a36ec461e9d747ca6eae09211~mv2.webp)
![NCLAT Upholds the Adjudicating Authority's Right to Allow Modifications to the Resolution Plan](https://static.wixstatic.com/media/d515a3_0aac6e7a36ec461e9d747ca6eae09211~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_0aac6e7a36ec461e9d747ca6eae09211~mv2.webp)
- May 15
- 2 min
NCLAT Upholds the Adjudicating Authority's Right to Allow Modifications to the Resolution Plan
![](https://static.wixstatic.com/media/d515a3_f14718b5c1454764bd4eae3cf6b04743~mv2.jpg/v1/fill/w_242,h_242,fp_0.50_0.50,lg_1,q_30,blur_30,enc_auto/d515a3_f14718b5c1454764bd4eae3cf6b04743~mv2.webp)
![NCLAT reiterates that new claims cannot be entertained after the approval of the Resolution Plan by the CoC](https://static.wixstatic.com/media/d515a3_f14718b5c1454764bd4eae3cf6b04743~mv2.jpg/v1/fill/w_209,h_173,fp_0.50_0.50,q_90,enc_auto/d515a3_f14718b5c1454764bd4eae3cf6b04743~mv2.webp)
- May 14
- 2 min
NCLAT reiterates that new claims cannot be entertained after the approval of the Resolution Plan by the CoC
![](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
![NCLAT upholds the extension of the CIRP beyond the statutory limit of 330 days, emphasizing the need for flexibility in exceptional circumstances](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
- May 13
- 2 min
NCLAT upholds the extension of the CIRP beyond the statutory limit of 330 days, emphasizing the need for flexibility in exceptional circumstances
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![NCLAT Sets Aside Adjudicating Authority's Retrospective Extension Order, Grants Extension From the Date of Disposal of the Appeal](https://static.wixstatic.com/media/d515a3_0aac6e7a36ec461e9d747ca6eae09211~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_0aac6e7a36ec461e9d747ca6eae09211~mv2.webp)
- May 13
- 2 min
NCLAT Sets Aside Adjudicating Authority's Retrospective Extension Order, Grants Extension From the Date of Disposal of the Appeal
![Supreme Court Dismisses MSME Plea Against Section 43B(h) of the Income Tax Act: 45-Day Credit Extension Rule](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- May 13
- 1 min
Supreme Court Dismisses MSME Plea Against Section 43B(h) of the Income Tax Act: 45-Day Credit Extension Rule
![](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
![Even the appellant's status as an allottee does not affect the validity of Section 7 application due to non-compliance with the necessary provisions under IB Code](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
- May 13
- 2 min
Even the appellant's status as an allottee does not affect the validity of Section 7 application due to non-compliance with the necessary provisions under IB Code