https://www.taxtmi.com/caselaws?id=384079 An application under the Insolvency and Bankruptcy Code, 2016 was examined on limitation under Article 137 of the Limitation Act, which provides a three-year period from accrual of the right to apply. The limitation objection was rejected because the default was linked to classification of the account as a non-performing asset and a subsequent recall notice, and the application was filed within three years of those events. As the Code had come into force on 1 December 2016 and the application was filed on 24 October 2018, it was treated as being within time and not barred by limitation. en-us Thu, 23 May 2019 00:00:00 +0530 Tue, 06 Aug 2019 07:48:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384079 An application under the Insolvency and Bankruptcy Code, 2016 was examined on limitation under Article 137 of the Limitation Act, which provides a three-year period from accrual of the right to apply. The limitation objection was rejected because the default was linked to classification of the account as a non-performing asset and a subsequent recall notice, and the application was filed within three years of those events. As the Code had come into force on 1 December 2016 and the application was filed on 24 October 2018, it was treated as being within time and not barred by limitation. Case-Laws Insolvency and Bankruptcy Thu, 23 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384079