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2021 (2) TMI 307 - HC - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - company defaulted in payment of the dues and the loan account was treated as 'Non-Performing Asset' - HELD THAT:- Though the learned Senior Counsel appearing for the petitioner, as well as the learned Standing Counsel appearing for the 1st respondent Bank, impressed upon the Court to consider their rival claim as to the bar of limitation in respect of the application filed by the 1st respondent Bank, this Court is not inclined to go into the claim in the light of the well settled position of law that the issue relating to limitation is a mixed question of law and facts, especially in the light of the plea taken by the 1st respondent Bank in Para No.27 of their application. It is brought to the notice of this Court by the respective learned counsel for the parties that the 2nd respondent Tribunal is yet to entertain the application. This Court permits the petitioner, cited as Corporate Debtor in the said application, to raise the plea of limitation by also putting the 1st respondent Bank on notice, and the 2nd respondent Tribunal is requested to decide on the basis of the materials placed, as to the maintainability of the application, especially in the light of the plea taken by the writ petitioner/Corporate Debtor with regard to the bar of limitation, and decide the same in accordance with law - Petition disposed off.
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