Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2021 (5) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (5) TMI 311 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational creditors - existence of debt and dispute or not - Time Limitation - HELD THAT:- The period of limitation prescribed under section 137 of the Limitation Act is 3 years - In the present case, the debit notes raised by the Corporate Debtor is more than 3 years from the date of filing this application on 24.10.2019 and last payment received from the corporate debtor on 23.02.2016. Even, in this case, the Operational Creditor has not filed condone delay in filing application on the cause of action. By taking into consideration the facts, this application is hit by the limitation - Application dismissed.
|