2019 (12) TMI 1583

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..... er, 1996. Thereafter, Appellant filed suit for recovery which was decreed on 17th October, 2005 and a case for execution is pending. Therefore, it is found that the application under Section 7 was barred by limitation. An application under Section 7 was filed with malicious intent, not for resolution of insolvency or liquidation, as covered under Section 65 of the I B Code - appeal dismissed. .....

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..... itation. 2. The Corporate Debtor Jayant Vitamins Ltd. committed default on 13th September, 1996. Thereafter, Appellant filed suit for recovery which was decreed on 17th October, 2005 and a case for execution is pending. Therefore, we find that the application under Section 7 was barred by limitation. 3. Further, we are of the view that application under Section 7 was filed with malicious .....

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