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Principal Associate in the Dispute Resolution Team at the Mumbai office of Cyril Amarchand Mangaldas. Saloni has eight years’ experience in the practice area of dispute resolution with special focus on matters under the Insolvency and Bankruptcy Code, 2016. Saloni also focuses on arbitrations and general commercial disputes. She can be reached at saloni.kapadia@cyrilshroff.com

IBC and Limitation - The Dust Settles Blog

The Supreme Court in the case of Laxmi Pat Surana vs Union Bank of India & Anr. [Civil Appeal No. 2734 of 2020] (“Laxmi Pat”) has settled the issue of the applicability of Section 18 of the Limitation Act, 1963 (“Limitation Act”) to applications for initiation of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (“IBC”). The Apex Court has held that Section 18 of the Limitation Act (“Section 18”) applies to extend the period of limitation for filing an application under Section 7 of the IBC.
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