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2024 (4) TMI 566 - SCH - Insolvency and BankruptcyAmendment of section 7 application - time limitation - date of default - HELD THAT:- It is clear from the amendment that the case of the respondent is that though the first default arose on 30 April 2014, the petition under Section 7 is not barred by limitation in view of the subsequent events including the acknowledgements in the balance sheets and the recovery certificate. The NCLAT while affirming the order of the NCLT allowing the amendment has specifically kept the question of limitation open. In that sense, the plea of the appellant that the petition under Section 7 of the IBC is barred by limitation is not prejudiced - Bearing in mind the above circumstances, it is not necessary for the Court to entertain the appeal. All aspects on the question of limitation would be decided by the NCLT. This order merely affirms the correctness of the order allowing the amendment without expressing any opinion on the merits of the plea on limitation - Appeal disposed off.
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