Section 9 IBC- Limitation Does Not Commence When The Debt Becomes Due But Only When A Default Occurs: Supreme Court

The Supreme Court has held that limitation does not commence when the debt becomes due but only when a default occurs.The bench comprising Justices DY Chandrachud, Surya Kant and Vikram Nath that the debt is defined in Insolvency and Bankruptcy Code as the non-payment of the debt by the corporate debtor when it has become due. In this case, the appellant placed orders with the...