Sep 30, 2021

SC holds that Issuance of Judgement/Decree for Money Gives Rise to Fresh Cause of Action under IBC

In Dena Bank v. C. Shivakumar Reddy,[1] the Supreme Court inter alia held that issuance of a judgment/decree for money or a certificate of recovery in favour of the financial creditor gives rise to a fresh cause of action for such financial creditor to initiate proceedings under Section 7 of the IBC, within three years from date of the judgement and/or decree or the recovery certificate


[1] 2021 SCC OnLine SC 543.




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