Supreme Court of India · 2022-08-01
ASSET RECONSTUCTION COMPANY (INDIA) LIMITED vs TULIP STAR HOTELS LIMITED
- Citation / case number
- SC 2019/46839
- Court
- Supreme Court of India
- Petitioner
- ASSET RECONSTUCTION COMPANY (INDIA) LIMITED
- Respondent
- TULIP STAR HOTELS LIMITED
- Author
- HON'BLE MS. JUSTICE INDIRA BANERJEE
- Bench
- HON'BLE MR. JUSTICE V. RAMASUBRAMANIAN HON'BLE MS. JUSTICE INDIRA BANERJEE
Judgment text excerpt
The Supreme Court addressed appeals under Section 62 of the Insolvency and Bankruptcy Code, challenging the NCLAT's ruling that the Corporate Insolvency Resolution Process (CIRP) against V. Hotels Ltd. was barred by limitation. The court examined the timeline of the loan agreement and the initiation of insolvency proceedings, ultimately upholding the NCLAT's decision. The outcome reinforces the importance of adhering to statutory limitation periods in insolvency matters.