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2020 (12) TMI 319 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- In sum - (a) The date of default is 30.06.2014. (b) The balance confirmation letter placed on record is dated 30.06.2013. See page 19 of the Petition (c) The letter informing the Corporate Debtor about the accounts having become NPA is dated 13.11.2014. See p.2117 of the Petition (d) There is nothing on record to show that there is any acknowledgement of debt after the accounts were declared as NPA on 13.11.2014. (e) The OTS proposal is dated 01.08.2018, See page 14 of the reply i.e., long after the expiry of the prescribed period of limitation. The present petition filed byUCO Bank against Deegee Orchards Private Limited is barred by limitation - Petition dismissed.
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