The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Indevar Pandey (Technical Member) has held that Intervention Application under section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be entertained beyond the limitation period of 3 years.
The present appeal has been filed by the Corporate Person through its Liquidator against an order passed by National Company Law Tribunal (NCLT) by which it allowed the Respondent to intervene in an application under section 59(7) of the Insolvency and Bankruptcy Code, 2016 (IBC).
The Appellant submitted that since the application for intervention was filed on 28.08.2019, therefore, it was beyond…