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2022 (7) TMI 357 - NATIONAL COMPANY LAW TRIBUNAL , AHMEDABAD BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - Time Limitation - HELD THAT:- The Operational Creditor supplied the goods to the Corporate Debtor and raised 18 invoices of Rs. 4,25,39,644/-. It is not a disputed fact that out of the total aforesaid amount, the Corporate Debtor paid an amount of Rs. 3,86,89,784/-. The Demand notice under Section 8 of the IB Code in form-3 was issued by the Operational Creditor to the Corporate Debtor on 04.04.2019 for the payment of Rs. 2,40,20,575/-, and the same was delivered to the Corporate Debtor on 09.04.2019. The Corporate Debtor replied to the said demand notice on 20.05.2019 and raised a pre-existing dispute with respect to the service and goods supplied. This application is filed on the basis of the award passed by the Hon'ble MSME Council on 20.02.2016. In the present matter, the moot question is whether the award passed on 20.02.2016 by the MSME Council is within the period of limitation or not? It is settled law that Article 137 Schedule- I of the Limitation Act, 1963 would be applicable in the application filed under section 7 or 9 of the IB Code. The aforesaid Article provides 3 years limitation period for filing an application from the date when the right accrues. The arbitration award was passed on 20.02.2016 and the present application was filed before this Adjudicating Authority on 13.08.2019 after three years. No appeal or application for setting aside the said order is preferred by the Corporate Debtor till date. The present application is barred by limitations - Application rejected.
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