Vashdeo R Bhojwani vs Abhyudaya Co Operative Bank Ltd

The Supreme Court ruled on the applicability of limitation periods in the context of financial recovery under the Insolvency and Bankruptcy Code. The court held that the period of limitation does not commence until the debt is acknowledged, and in this case, the continuous default meant that the limitation period had not begun. Consequently, the NCLT's admission of the Section 7 petition was upheld, affirming the rights of the financial creditor to recover the dues.