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2019 (12) TMI 187 - Tri - Insolvency and BankruptcyTime Limitation - initiation of CIRP against Corporate Debtor - whether the claim of the applicant/petitioner is within limitation or barred by limitation? - HELD THAT:- In the case in hand, the applicant claims the amount from September, 2014 to May, 2015, therefore, in view of Article 137 of Limitation Act, the person is required to file application within three years, when right accrues to file the claim, but the applicant has not claimed the amount within three years from 30.09.2015, i.e. the date of default and filed this petition on 15.05.2019, which is much after the three years from the date of default. In view of the provision of Article 137 of Limitation Act, this Adjudicating Authority is of the considered view, that the present claim of the applicant/petitioner is barred by Article 137 of Limitation Act - the present petition filed u/s 9 is barred by limitation, thus this petition is not liable to be admitted - the prayer to initiate proceedings under Section 9, read with Sections 13, 14 & 33 and other applicable provisions of the Insolvency & Bankruptcy Code, 2016, against the Corporate Debtor company by the applicant, is hereby rejected - petition dismissed.
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