Supreme Court of India · 2022-05-30
KOTAK MAHINDRA BANK LTD. vs A. BALAKRISHNAN
- Citation / case number
- SC 2021/3887
- Court
- Supreme Court of India
- Petitioner
- KOTAK MAHINDRA BANK LTD.
- Respondent
- A. BALAKRISHNAN
- Author
- HON'BLE MR. JUSTICE B.R. GAVAI
- Bench
- HON'BLE MS. JUSTICE HIMA KOHLI HON'BLE MR. JUSTICE B.R. GAVAI
Judgment text excerpt
The Supreme Court dismissed the appeal by Kotak Mahindra Bank challenging the NCLAT's decision that reversed the NCLT's admission of the bank's application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The NCLAT found the application to be time-barred and ruled that the issuance of a Recovery Certificate did not activate the right to sue. The court upheld the NCLAT's interpretation regarding the timelines for insolvency applications.