Supreme Court of India
State Bank of India v. Krishidhan Seeds Private Limited
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In view of the above decisions, the position of law has been set at rest.
Judgment, page 8
From the headnote
Insolvency and Bankruptcy Code 2016 – s.7 – Limitation Act, 1963 – s.18 – Applicability of – Default, acknowledgment in balan ce sheet of company – Proceedings under IBC – Limitation – Ap pellant filed application for initiation of Corporate Insol vency Resolution Process (CIRP) 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-P erforming Asset (NPA) – Application rejected by NCLT on ground of li mitation observing that the account was declared an NPA on 10.06.14, whil e
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