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        Case ID :
        Insolvency and Bankruptcy

        Seeking dismissal of the application filed under Section 7 of...

        IBC Section 7 Application Timely: NCLT Filing Within Limitation Despite NPA Status and Litigation History.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Seeking dismissal of the application filed under Section 7 of the IBC - barred by limitation or not - The date of declaration of the loan account as NPA is 31.05.2011. - Long litigation history including proposal for rescheduling of loan etc. - Further communications between the parties, respondent No. 2 agreed for settlement of its dues under OTS vide letter dated 22.04.2016. It was thereafter that application under Section 7 of IBC was filed before NCLT in the year 2018, to be precise on 29.10.2018, which ultimately led to the order dated 20.09.2019. Therefore, it cannot be said that the application under Section 7 of IBC is barred by limitation. - HC
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