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2019 (6) TMI 965 - Tri - Insolvency and BankruptcyInitiation of Corporate Insolvency Resolution Process - Corporate Debtor - outstanding debt - section 9 of Insolvency & Bankruptcy Code, 2016 - winding up petition petition - time limitation - HELD THAT:- It is pertinent to note that the date of default, admittedly, is 31.07.2009 and the period of limitation would be three years in the present case. Therefore, the limitation period for filing of Petition would expire on 30.7.2012. The Petition before the Hon’ble High Court was filed on or after 24.06.2013 which is after almost 11 months from the date of legal notice dated 26.07.2012. It is pertinent to mention that Hon’ble High Court of Delhi in Interactive Media and Communication Solution Private Limited vs GO Airlines Limited, [2013 (2) TMI 195 - DELHI HIGH COURT] has held that a claim which is barred by limitation on the date of filing of the Petition cannot be said to be within limitation if the notice under section 434 of Companies Act demanding payment of the said claim was sent within limitation. In the present case, the notice under section 434 was filed on 26.07.2012 which is within limitation period; however, the petition for winding up was filed on 24.06.2013 which is beyond the period of limitation. Thus, it appears that the winding up petition has been filed beyond the period of limitation of three years. The petition is rejected as the debt being barred by law of limitation.
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