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2019 (7) TMI 1186 - AT - Insolvency and BankruptcyAdmissibility of application - Section 9 of the Insolvency and Bankruptcy Code, 2016 - rejection on the ground that the claim is time barred - whether the claim is barred by limitation as observed by the Adjudicating Authority? - HELD THAT:- In the present case, it is not in dispute that right to apply under Section 9 accrued to the Appellant on 1st December, 2016, when ‘I&B Code’ came into force. Therefore, we find that the application under Section 9 filed by the Appellant is within the period of three years from the date of right to apply accrued. The winding up petition was filed before the Hon’ble High Court of Judicature at Madras which had not reached finality and in the meantime, as the ‘I&B Code’ came into force, the demand notice under Section 8(1) was issued on 14th November, 2017 for payment of outstanding amount along with the interest. Thus, as we find that there is continuous cause of action the claim is within the period of limitation. Case remitted to the Adjudicating Authority for admission of the case after notice to the parties - appeal allowed by way of remand.
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