2018 (7) TMI 1875

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..... Harsh Chopra, Advocates. ORDER This appeal has been preferred by the Director and Shareholder of M/s. Kunj Forgings (P) Ltd.- ('Corporate Debtor') against the order dated 17th May, 2018, whereby and whereunder the application under section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "I&B Code") preferred by the Punjab National Bank- ('Financial Creditor') has been .....

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..... right to apply under Section 7 accrued to 'Punjab National Bank' on 1st December, 2016, when 'I&B Code' came into force. Before the same, it had no right to apply under Section 7 of the 'I&B Code'. Therefore, even if the Limitation Act is made applicable, the application being not barred by limitation, interference is not called for. 4. There being no merit, the appeal is dismissed. No costs.

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