TMI Blog2019 (9) TMI 711X X X X Extracts X X X X X X X X Extracts X X X X ..... :- It is clear that when the Recovery Certificate dated 24.12.2001 was issued, this Certificate injured effectively and completely the appellant s rights as a result of which limitation would have begun ticking - his being the case, and the claim in the present suit being time barred, there is no doubt that is due and payable in law. Appeal allowed. - CIVIL APPEAL NO. 11020 OF 2018 - - - Date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tition was filed by the Respondent No.1 on 21.07.2017 before the NCLT claiming that this amount together with interest, which kept ticking from 1998, was payable to the respondent as the loan granted to Respondent No.2 had originally been assigned, and, thanks to a merger with another Cooperative Bank in 2006, the respondent became a Financial Creditor to whom these moneys were owed. A petition un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 27. It is thus clear that since the Limitation Act is applicable to applications filed under Sections 7 and 9 of the Code from the inception of the Code, Article 137 of the Limitation Act gets attracted. The right to sue , therefore, accrues when a default occurs. If the default has occurred over three years prior to the date of filing of the application, the application would be barred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ght but to a continuing wrong. It is the very essence of a continuing wrong that it is an act which creates a continuing source of injury and renders the doer of the act responsible and liable for the continuance of the said injury. If the wrongful act causes an injury which is complete, there is no continuing wrong even though the damage resulting from the act may continue. If, however, a wrongfu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... subsequently continued... (at page 496) Following this judgment, it is clear that when the Recovery Certificate dated 24.12.2001 was issued, this Certificate injured effectively and completely the appellant s rights as a result of which limitation would have begun ticking. 5) This being the case, and the claim in the present suit being time barred, there is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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