Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2019 (11) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (11) TMI 1524 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor committed default in making payment of unpaid operational debt - Existence of debt and dispute or not - time limitation - HELD THAT:- This application is also found not maintainable being barred by limitation. According to the applicant, the first instance of default on the part of the Corporate Debtor pertains to the invoice dated 13.07.2015. The last invoice seen was issued on 28.10.2015. According to the Operational Creditor, it is maintaining a running account and part payment was made by the Corporate Debtor on 04.01.2016 to the tune of ₹ 12,63,816.12/- and therefore, its claim is not barred by limitation. The applicant having failed in proving that it is the assignee of the debt due to the Siemens Ltd.., and that the claim being found barred by limitation, this application filed under Section 9 by the Operational Creditor is liable to be dismissed with no order as to costs - Petition dismissed.
|