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2021 (10) TMI 712 - 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 - application is barred by limitation or not? - HELD THAT:- Admittedly, this application is filed on 16.03.2020, as per demand notice (which is at page 43 relevant page 44 of petition), the date of default is mentioned as 31.12.2016 - In part-IV of the application, the petitioner has also averred the date of default first arose on 31.12.2016, on the ground that the petitioner has claimed his salary for the period of November and December, 2016. The emails exchanged in between the parties do not show the acknowledgement of debt towards the salary for the period of November and December 2016. Rather, it was made clear by the Human Resource Department of Corporate Debtor that as per note, no salary is due. Therefore, on the basis of these emails, the contention of the petitioner, cannot be admitted that these emails are amounts to acknowledgement of debt by the Corporate Debtor - further apart from the emails, there is no other document to show that the Corporate Debtor has ever acknowledged the debt of the petitioner. Hence, the benefit of Section 18 of Limitation Act cannot be allowed. Since, the default as per the averments made in demand notice as well as Part-IV of the application was occurred on 31.12.2016 and the petition is filed on 16.03.2020. Whereas, in view of Article 137 of the Limitation Act, the petition must be filed within three years when right to apply accrues. But it is filed on 16.03.2020 i.e. much after the three years when the default has occurred - the present application is barred by limitation and the same is liable to be dismissed. Application dismissed.
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