Dismissal of Section 9 for initiation of CIRP - Period of ...

Insolvency and Bankruptcy

March 7, 2024

Dismissal of Section 9 for initiation of CIRP - Period of limitation - The Adjudicating Authority held that the debt was time-barred as per the Limitation Act. It noted that 26 out of 27 invoices submitted by the Operational Creditor were more than three years old from the date of filing the Section 9 application, and no subsequent acknowledgment of liability was provided to extend the limitation period. - The Tribunal (NCLAT) dismissed the appeal, affirming the Adjudicating Authority's order.

View Source

← Previous Next →

Dismissal of Section 9 for initiation of CIRP - Period of ...

Insolvency and Bankruptcy

March 7, 2024

You may also like:

Initiation of CIRP - Application barred by time limitation or not - The acknowledgement made by the Principal Borrower within three years’ period from the date of...

Initiation of CIRP - Period of Limitation - Exclusion of certain period - NCLT rejected the application - The Adjudicating Authority has committed error in rejecting the...

Initiation of CIRP - Period of limitation - It is now well settled that the provisions of the Limitation Act are applicable to proceedings under the IBC as far as may be...

Initiation of CIRP - time limitation - In respect of the invoices raised in the year 2013 the prescribed period of limitation being three years in terms of Article 137...

Initiation of CIRP - Period of limitation - It is clear that on the day of filing the petition U/S 7 of the Code, there was a subsisting liability on the corporate...

Initiation of CIRP - NCLT admitted the application u/s 7 - period of limitation - The application filed by the Respondent No. 1 was not barred by time there being...

Initiation of CIRP - existence of default and debt - time limitation - Section 22 of the Limitation Act, 1963 relates to ‘breaches and torts’, for the purpose of...

Initiation of CIRP - Period of limitation - to be recognized from the date of NPA or Balance Sheet recognizing the debt - An application under Section 7 of the IBC would...

Period of limitation for filing of Application for initiation of CIRP - an application under Section 7 of the IBC would not be barred by limitation, on the ground that...

Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an...

Initiation of CIRP - Period of limitation - here is an acknowledgment of Debt by the Principal Borrower but also the Corporate Debtor on 27.5.15 & 8.12.18...

Maintainability of application - initiation of CIRP - Period of limitation - when part payment is made before the expiration of the prescribed period of limitation by...

Initiation of CIRP - corporate guarantor - Period of limitation - A fresh period of limitation is required to be computed from the date of acknowledgment of debt by the...

Initiation of CIRP - Financial Creditor - time limitation - The mere fact that Corporate Debtor did not appear or filed any objection, was not relevant for consideration...

Initiation of CIRP - time limitation - there is no support to the submission from the Section 10A that the prohibition from initiation of CIRP was limited for six months...

Quick Updates: