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2020 (12) TMI 324 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - alleged default on the part of the Respondent in settling an amount including interest are lying towards the goods supplied by the Applicant - Ex-parte order - HELD THAT:- The applicant has supplied basic and high temperature refectories items to the Respondent M/s. Rathi Ispat Ltd. and various outstanding invoices were raised against the Respondent. Further, the claims of the applicant are barred by the Limitation Act, 1937, because last invoice was raised by the applicant on 22.03.2007 against which the Limitation has expired way back. The remedy pursued by the applicant by way of recovery suit which was decided on 26.09.2016 does not entitle the applicant to exclude such period out of limitation for the purpose of ascertaining limitation under the provisions of the code. The operational creditor is not entitled to get the computation of limitation under section 14(2) of the Limitation Act therefore the same is barred by limitation - Application dismissed.
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