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2023 (3) TMI 242 - Tri - Insolvency and BankruptcyMaintainability of petition - seeking initiation of Corporate Insolvency Resolution Process (CIRP) - Financial Creditors failed to make repayment of its dues - Non-Performing Assets (NPA) - Time Limitation - HELD THAT:- On perusal of the records, it is noticed that this Application has been filed on 30.03.2021 and the Date of NPA and Date of Default is stated to be 31.03.2017 and 02.12.2016 in the Part-IV of the Petition. Further, the Date of Default as per record of default with Information Utility is stated to be 01.03.2017. In view of this, the present Application having been filed on 30.03.2021 is barred by limitation in view of Date of Default as per Part-IV date as well as per IU Records. The Financial Creditor has already filed Financial Statement till 31.03.2016. Since this financial statement has been signed on 13.12.2016, it does not save the case of the Financial Creditor. As the limitation period expires before 24.03.2020, the enlargement of period as granted by Hon’ble Supreme Court on account of Covid-19 is not applicable in the Present Petition filed by the Financial Creditor. In view of this the Present Petition filed by the Financial Creditor for imitating CIRP against the Corporate Debtor is barred by law of limitation and hence is liable to be dismissed.
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