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2019 (4) TMI 736 - Tri - Insolvency and BankruptcyInitiation of Corporate Insolvency process - Operational debt - Section 7, 8 or 9 of the Insolvency and Bankruptcy Code, 2016 - Held that:- The Hon’ble Supreme Court in the case of Mobilox Innovations (P.) Ltd. v. Kirusa Software (P.) Ltd [2017 (9) TMI 1270 - SUPREME COURT OF INDIA], has inter alia held that IBC, 2016 is not intended to the substitute to a recovery forum. The Hon’ble Supreme Court in B.K. Educational Services (P.) Ltd. v. Parag Gupta & Associates [2018 (10) TMI 777 - SUPREME COURT], has inter alia, held that provisions of Limitation Act will apply to proceedings or appeals before NCLT/NCLAT. Section 238A of the Code make provisions of Limitation Act would apply to proceedings under the Code. The instant Company petition is not fit case to admit to initiate CIRP, and thus it is only liable to be dismissed.
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