The intersection between the insolvency and bankruptcy code 2016, limitation act 1963 and sick industrial companies (special provisions) act, 1985 - building new dimensions for Indian insolvency jurisprudence
By: Jasper, Vikas
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Material type: 
BookPublisher: Journal of the Indian Law Institute Description: 65(4), Oct-Dec, 2023: p.420-430.
In:
Journal of the Indian Law InstituteSummary: Whenever a new legislation replaces the previous one, various issues such as, what will be the fate of cases pending under the previous legislation or how the new legislation will merge with the existing legislation, gain importance. Similar was the situation with the coming into effect of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016). In the beginning, it seemed to be pretentious, though later, when it was tested on the anvil of constitutionality, it was found to be constitutionally valid. Applicability of the Limitation Act, which has a direct bearing on the outcome of any insolvency proceedings initiated under IBC, 2016, requires careful consideration. In the first part of the paper, the interaction of the Limitation Act, 1963 and IBC, 2016 has been examined. In the second part, various aspects of the judgment passed by the Supreme Court in the case of Sabarmati Gas Limited have been analysed at length, which revolve around IBC, 2016, Limitation Act, 1963 and SICA, 1985. This judgment also throws light on the issue of the pre-existence of disputes. Accordingly, the third part evaluates the benchmark of a dispute which is sufficient enough to deny relief to operational creditors under IBC, 2016.- Reproduced
http://14.139.60.116:8080/jspui/bitstream/123456789/48192/1/32_The%20Intersection%20between%20the%20Insolvency%20and%20Bankruptcy%20Code%202016%2c%20Limitation%20Act%201963%20and%20Sick%20Industrial%20Companies%20%28Special%20Provisions%29%20Act%2c%201985%20-%20Building%20New%20Dimensions%20for%20Indian%20Insolve.pdf
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | 65(4), Oct-Dec, 2023: p.420-430 | Available | AR134002 |
Whenever a new legislation replaces the previous one, various issues such as, what will be the fate of cases pending under the previous legislation or how the new legislation will merge with the existing legislation, gain importance. Similar was the situation with the coming into effect of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016). In the beginning, it seemed to be pretentious, though later, when it was tested on the anvil of constitutionality, it was found to be constitutionally valid. Applicability of the Limitation Act, which has a direct bearing on the outcome of any insolvency proceedings initiated under IBC, 2016, requires careful consideration. In the first part of the paper, the interaction of the Limitation Act, 1963 and IBC, 2016 has been examined. In the second part, various aspects of the judgment passed by the Supreme Court in the case of Sabarmati Gas Limited have been analysed at length, which revolve around IBC, 2016, Limitation Act, 1963 and SICA, 1985. This judgment also throws light on the issue of the pre-existence of disputes. Accordingly, the third part evaluates the benchmark of a dispute which is sufficient enough to deny relief to operational creditors under IBC, 2016.- Reproduced
http://14.139.60.116:8080/jspui/bitstream/123456789/48192/1/32_The%20Intersection%20between%20the%20Insolvency%20and%20Bankruptcy%20Code%202016%2c%20Limitation%20Act%201963%20and%20Sick%20Industrial%20Companies%20%28Special%20Provisions%29%20Act%2c%201985%20-%20Building%20New%20Dimensions%20for%20Indian%20Insolve.pdf
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