Judgment briefs
Supreme Court of India

IL & FS Financial Services Limited v. Adhunik Meghalaya Steels Private Limited

Insolvency and Bankruptcy Code, 2016 – ss.7, 238A – Limitation Act, 1963

Allowed
Court
Supreme Court of India
Decided
30 Jul 2025
Citation
[2025] 7 S.C.R. 1823
Case no.
CIVIL APPEAL No. 5787/2025
Bench
Manoj Misra, K.v. Viswanathan

Issue for consideration

Whether the Tribunals below were justified in holding that the s.7 application under the IBC filed by the appellant on 15.01.2024 was barred by time; does the entry in the Balance Sheet of F.Y. 2019-20 constitute a valid acknowledgement of debt by Limitation Act, 1963; will Para 5(I) or 5(III) of the order dated 10.01.2022 passed by the Supreme Court in Suo Moto Writ Petition No. 3 of 2020 govern the situation.

Judgment PDF: IL & FS Financial Services Limited v. Adhunik Meghalaya Steels Private Limited
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