Real judgements, distilled

Legal Case Shots

Court judgements broken down into the case type, how the decision played out, and the lesson worth remembering, with the full judgement available as a PDF.

Frequently asked questions

Is this suitable for use in legal research and court filings?+

Legal Case Shots is built to help you quickly identify and understand relevant precedent. For citation in pleadings or filings, always verify against the full judgment PDF and current citation format (e.g., 2026 INSC ___).

How is a "lesson learnt" different from the judgment's holding?+

The holding is what the court legally decided. The lesson learnt translates that into a practical takeaway: what a lawyer should factor into case strategy or client advice as a result of this precedent.

Is the full judgment available, or just a summary?+

Both. Each case shows a distilled summary (case type, key holding, and lesson learnt) and links to the full judgment as a PDF for when you need the complete text for research or citation.

Can I filter judgments by date or case type?+

Yes. Use Advanced Filters to narrow results by decision date and by practice area, including Constitutional Law, Criminal Law, Service & Administrative Law, Family Law, Civil Property & Inheritance, and Labour & Industrial Law.

Can I search judgments by a specific judge?+

Yes. You can filter judgments by the judge or bench that decided the case, which is useful for tracking how a particular judge has reasoned on similar issues across multiple rulings.

What is Legal Case Shots?+

Legal Case Shots is a searchable database of Supreme Court of India judgments, each broken down into the case type, the court's key holding, and a practical lesson learnt, with the full judgment available as a PDF for citation or deeper reading.

Company & Insolvency LawSupreme Court of India

Jignesh Shah & Anr. v. Union of India & Anr.

Writ Petition (Civil) · 2019 INSC 1080Decided 25 Sept 2019
Writ Petition (Civil) No. 455 of 2019
Justice Rohinton Fali Nariman · Justice R. Subhash Reddy · Justice Surya Kant

Background

IL&FS had a letter of undertaking from La-Fin Financial Services (a group company of MCX) to buy back certain shares, which La-Fin refused to honour in August 2012, leading IL&FS to sue for specific performance/damages in the Bombay High Court. In 2016, IL&FS separately filed a winding-up petition against La-Fin, which, after the Insolvency and Bankruptcy Code came into force, got automatically converted into an insolvency application before the National Company Law Tribunal (NCLT), which admitted it in 2018; the National Company Law Appellate Tribunal (NCLAT) upheld that admission, holding the claim was not time-barred because it was filed within three years of the Code itself coming into force. La-Fin's shareholders, Jignesh Shah and Pushpa Shah, challenged this before the Supreme Court, arguing the claim was barred by limitation long before the Code even existed.

Decision Breakdown

The Supreme Court held that the general law of limitation (the three-year period under Article 137 of the Limitation Act) applies to insolvency applications under Section 7 of the Code, and that this period runs from the actual date of default, here, August 2012, when La-Fin refused to honour its undertaking, not from the date the Code came into force. Since the winding-up petition (later treated as the Section 7 application) was filed only in October 2016, more than three years after the date of default stated in IL&FS's own filings, the claim was already time-barred and could not be revived simply because the Code had come into existence in the meantime. The Court therefore allowed the connected civil appeal, set aside the NCLAT and NCLT orders, and held the proceedings could not continue as they were filed beyond the limitation period.

Lesson Learnt

A creditor cannot use the Insolvency and Bankruptcy Code to revive a monetary claim that was already time-barred under ordinary limitation law before the Code came into force: the three-year limitation clock starts running from the actual date of default, not from whenever a new law creating a fresh remedy happens to be enacted.

Jignesh Shah & Anr. v. Union of India & Anr. – Legal Case Shots | LegalAware