Shivakumar Reddy & Anr, 2021 SCC OnLine SC 543 which inter alia held that the a fresh period of limitation period would accrue for an application under Section 7 from the date of a recovery certificate see Ergo Update here.
The judgment also approved an earlier decision of a twojudge bench of the Supreme Court in the case of Dena Bank (now Bank of Baroda) vs. 689 of 2021) held that a recovery certificate issued the Recovery of Debts and Bankruptcy Act, 1992 (RDB Act) would qualify as a “financial debt” under the Insolvency and Bankruptcy Code, 2016 (IBC), and give rise to a fresh cause of action under section 7 of the IBC. Balakrishnan & Anr (Judgment dated in Civil Appeal No. Recently, by a judgment dated, a three-judge bench of the Supreme Courtin the case of Kotak Mahindra Bank Limited versus A.