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2021 (7) TMI 876 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial creditors or not - existence of debt and dispute or not - time limitation - HELD THAT:- It is evident from the Part 2 of Form 1 which has been filed by Financial Creditor that no date of default has been mentioned in the Form 1. Hence, on perusal of the application filed under section 7 of IBC, 2016, the date of default can be ascertained as 22.12.2014, the date on which the Corporate Debtor sent a mail to the financial Creditor accepting that the said project has been delayed and acknowledged the liability. Whereas, the financial Creditor has filed the present application under section 7 of IBC, 2016 on 21.11.2019. The Present application filed under section 7 of the IBC, Code, 2016 fails the test of Limitation as far as the Code is concerned as it is clearly evident that the date of default i.e., 22.12.2014 had occurred over three years prior to the date of filing of application i.e., 21.11.2019, thus, the present application is time barred. Petition dismissed.
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