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2017 (4) TMI 1271 - Tri - Insolvency and BankruptcyCorporate insolvency procedure - eligibility of claim - Notice given by the Corporate Debtor relating to the dispute of the unpaid Operational Debt in terms of Section 9 (3)(b) of the Code - Held that:- A perusal of the documents on record, reflect that the invoices raised are for the period 01.04.2013 to 19.09.2013 for the services rendered. The present proceedings have been initiated on 29.03.2017, i.e. after a period of three years from the last invoice raised. Ld. Counsel for the Operational Creditor has failed to satisfy this Bench as to how this claim is legally recoverable being beyond the period of limitation. He seeks to rely on cheques tendered by the Corporate Debtor for enhancing the limitation, having been given in acknowledgement of the outstanding liability and in a bid to reduce the same. There is no difficulty in accepting the proposition that tender of a cheque would be an acknowledgment of a debt, but for the fact, that the cheques in this case are dated 31.01.2014 and 07.02.2014. The limitation as such can only be construed from 07.02.2014. As the petition was filed on 29.03.2017, it is clearly beyond the enhanced period of limitation. The claim being time barred, cannot be termed as a legally recoverable debt. In view of the same, the petition cannot be entertained and is liable to be dismissed.
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