https://www.taxtmi.com/caselaws?id=352973 The appeal against the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code was dismissed by the Appellate Tribunal. The Tribunal held that the application was not barred by limitation, emphasizing that the Limitation Act, 1963 does not apply to the initiation of the Corporate Insolvency Resolution Process. It was clarified that applications filed after the enforcement of the Code in December 2016 cannot be rejected on limitation grounds, even if there is a delay of more than three years from the cause of action. The impugned order admitting the application was upheld, and the appeal was dismissed without costs. en-us Wed, 15 Nov 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352973 The appeal against the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code was dismissed by the Appellate Tribunal. The Tribunal held that the application was not barred by limitation, emphasizing that the Limitation Act, 1963 does not apply to the initiation of the Corporate Insolvency Resolution Process. It was clarified that applications filed after the enforcement of the Code in December 2016 cannot be rejected on limitation grounds, even if there is a delay of more than three years from the cause of action. The impugned order admitting the application was upheld, and the appeal was dismissed without costs. Case-Laws Insolvency and Bankruptcy Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352973