Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Application under the Insolvency Code seeking initiation of insolvency via a guarantor was time barred under the Limitation Act: the tribunal applied the Article 137 three year limitation to applications under Section 94 and found that invocation of the guarantee in 2016-2017, after NPAs declared in 2013-2014, and the applicants' knowledge of potential insolvency filing rendered the 2023 filing barred. Pending debt recovery/security enforcement proceedings did not extend or exclude the limitation period sufficient to save the belated application, which was dismissed.
Application under the Insolvency Code seeking initiation of insolvency via a guarantor was time barred under the Limitation Act: the tribunal applied the Article 137 three year limitation to applications under Section 94 and found that invocation of the guarantee in 2016-2017, after NPAs declared in 2013-2014, and the applicants' knowledge of potential insolvency filing rendered the 2023 filing barred. Pending debt recovery/security enforcement proceedings did not extend or exclude the limitation period sufficient to save the belated application, which was dismissed.
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