Purposive interpretation of residential house exemption: unregistered purchase agreement alone does not defeat relief, but investment must be verified...
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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.
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.
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