The bench found that the MSME Council Awards were passed in 2011 and had attained finality in 2013, whereas the present Application was filed on 23.03.2022.
The National Company Law Tribunal (NCLT) Mumbai bench has ruled that, in accordance with Article 137 of the Limitation Act, 1963 (Limitation Act) read with Section 238A of the Code, an application submitted under Section 9 of the Insolvency and Bankruptcy Code, 2016 (Code) based on an arbitral award rendered in favor of the operational creditor cannot be admitted after three years from the date of the award.
The Corporate Debtor purchased packaging materials from Haabia…
