https://www.taxtmi.com/caselaws?id=344421 A claim barred by limitation cannot constitute an enforceable debt under the Insolvency and Bankruptcy Code, so a section 9 application based on such a stale claim is not maintainable. The text notes that the demand arose from debit notes raised after the corporate debtor had been dispossessed, and the earlier arbitration application on the same claim had been dismissed without liberty to pursue the matter further. As there was no payment or acknowledgment after September 2011, the debt was treated as time-barred and legally unenforceable, leaving no surviving operational debt to support insolvency proceedings. The application was therefore dismissed. en-us Thu, 04 May 2017 00:00:00 +0530 Sat, 17 Jun 2017 11:05:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344421 A claim barred by limitation cannot constitute an enforceable debt under the Insolvency and Bankruptcy Code, so a section 9 application based on such a stale claim is not maintainable. The text notes that the demand arose from debit notes raised after the corporate debtor had been dispossessed, and the earlier arbitration application on the same claim had been dismissed without liberty to pursue the matter further. As there was no payment or acknowledgment after September 2011, the debt was treated as time-barred and legally unenforceable, leaving no surviving operational debt to support insolvency proceedings. The application was therefore dismissed. Case-Laws Companies Law Thu, 04 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344421