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2020 (1) TMI 106 - AT - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment - time limitation - Section 7 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- For counting the period of limitation in filing the application under Section 7, we find that Part II of Third Division of Schedule of Limitation Act, 1963 i.e. Article 137 is applicable - It is clear that the limitation will start from the date of accrual of right. The accrual of right is also to be noticed from the date of confirmation or acknowledgment of the debt and to be read along with Section 18 of the Limitation Act, 1963. The application under Section 7 is not barred by limitation and the Adjudicating Authority has rightly admitted the application under Section 7 - application admitted - appeal dismissed.
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