https://www.taxtmi.com/caselaws?id=368811 The Limitation Act, 1963 applies to applications under sections 7 and 9 of the Insolvency and Bankruptcy Code, 2016 from the Code's inception. Section 238A was inserted to clarify that limitation governs insolvency proceedings, and the Code's definitions of claim, debt and default were read to require a legally due and payable debt. A default must therefore relate to a debt that is not time-barred, and time-barred claims cannot be used to trigger insolvency resolution. The result is that a dead remedy cannot be revived through proceedings under the Code. en-us Thu, 11 Oct 2018 00:00:00 +0530 Wed, 16 Jul 2025 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368811 The Limitation Act, 1963 applies to applications under sections 7 and 9 of the Insolvency and Bankruptcy Code, 2016 from the Code's inception. Section 238A was inserted to clarify that limitation governs insolvency proceedings, and the Code's definitions of claim, debt and default were read to require a legally due and payable debt. A default must therefore relate to a debt that is not time-barred, and time-barred claims cannot be used to trigger insolvency resolution. The result is that a dead remedy cannot be revived through proceedings under the Code. Case-Laws IBC Thu, 11 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368811