TMI Blog2022 (3) TMI 1570X X X X Extracts X X X X X X X X Extracts X X X X ..... t was already the part of the Application which has been brought on record along with the Application and from such details regarding the payment when the Adjudicating Authority has noticed the submissions that last payment was made on 31st July, 2018, the Application cannot be said to be barred by time. The default and debt were proved, on that basis the Application was admitted. In the present case, Part-IV of the Section 7 Application of the IBC, Date of Default is dated 25th August, 2017 there is no dispute regarding that but along with the Application the relevant documents including ledger account of the payment were also brought on record where the last payment made by the Corporate Debtor has been mentioned on 31.07.2018 and th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion being CP No. 1258/MB/I B/2020 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC in short) by the Respondent No. 1 has been admitted as well within time. 3. Learned Counsel for the Appellant submitted that in Part-IV of the Section 7 Application, the Date of Default was mentioned as 25th August, 2017 and from 25th August, 2017, the Application was barred by time since it was filed on 28th August, 2020. He further submitted that Adjudicating Authority even after noticing the aforesaid fact has not adverted to and held that Application is not barred by time. 4. We have considered the submissions of Learned Counsel for the Parties and perused the record. 5. The Adjudicating Authority in Paragraph 6 of the Or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C, Date of Default is dated 25th August, 2017 there is no dispute regarding that but along with the Application the relevant documents including ledger account of the payment were also brought on record where the last payment made by the Corporate Debtor has been mentioned on 31.07.2018 and the same has been noticed by the Adjudicating Authority. In view of the last payment made on 31.07.2018 as noted above, the Application was well within time and the Financial Creditor entitled for taking benefit of 3 years period of limitation from the date of last payment. The Judgment relied on by the Learned Counsel for the Appellant does not come to any aid to the Appellant in the present case. In view of the aforesaid, we do not find any merit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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