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2018 (8) TMI 1927 - AT - Insolvency and BankruptcyMaintainability of application - time limitation - the application is filed after more than three years, the cause of action having taken place on 9th May, 2012 - HELD THAT:- We are not inclined to decide the question whether there is a delay in preferring the application under Section 9 or not in view of the fact that the present appeal under Section 61 by the 'Corporate Debtor' is not maintainable as per the decision of the Hon'ble Supreme Court in Innoventive Industries Ltd. v. ICICI Bank [ 2017 (9) TMI 58 - SUPREME COURT ]. Further, even if it is accepted that the Limitation Act, 1963 is applicable, in such case, Article 137 (Part II - 'other applications') will be applicable in terms of which period of three years' time prescribed is to be continued from the date of right to apply accrued to the Appellant - 'I&B Code' having come into force since 1st December, 2016, the Respondent accrued right to file application under Section 9 since 1st December, 2016 and the application having filed within three years, we hold that the application was within the period of limitation. Appeal dismissed - decided against appellant.
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