Limitation barred CIRP petition where all invoices fell outside the three-year period before filing.

The company petition for initiation of CIRP was found to be barred by limitation because the invoices relied on were dated between 31.03.2015 and 25.09.2016, while the petition was filed on 24.10.2019. On that filing date, none of the invoices fell within the three-year limitation period, including the two invoices the respondent claimed were still in time. As the entire claim was time-barred, the tribunal did not examine the remaining objections raised in reply and dismissed the petition.

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Issues: Whether the company petition seeking initiation of the Corporate Insolvency Resolution Process was barred by limitation.

Analysis: The petition was founded on invoices spanning from 31.03.2015 to 25.09.2016, while the company petition was filed on 24.10.2019. On examining the dates of the invoices and the filing record, the Tribunal found that none of the invoices fell within the three-year limitation period preceding the filing date. Even the two invoices said to be within time on the respondents' own showing were found to be time-barred on the correct filing date. Since the entire claim was beyond limitation, the Tribunal declined to record findings on the other objections raised in the reply.

Conclusion: The company petition was held to be hopelessly barred by limitation and was dismissed.

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