https://www.taxtmi.com/caselaws?id=386353 Limitation under Article 137 of the Limitation Act applies to applications under the Insolvency and Bankruptcy Code from the date of default, and section 238A makes that regime applicable to insolvency proceedings. A winding up petition later transferred and treated as a section 7 application cannot survive if the debt was already time-barred when the original petition was filed. A separate suit for specific performance does not extend, revive, or suspend limitation for the insolvency claim, because it is an independent proceeding. The transfer of an earlier winding up petition does not resurrect a stale debt. The petition was therefore barred by limitation. en-us Wed, 25 Sep 2019 00:00:00 +0530 Wed, 16 Jul 2025 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386353 Limitation under Article 137 of the Limitation Act applies to applications under the Insolvency and Bankruptcy Code from the date of default, and section 238A makes that regime applicable to insolvency proceedings. A winding up petition later transferred and treated as a section 7 application cannot survive if the debt was already time-barred when the original petition was filed. A separate suit for specific performance does not extend, revive, or suspend limitation for the insolvency claim, because it is an independent proceeding. The transfer of an earlier winding up petition does not resurrect a stale debt. The petition was therefore barred by limitation. Case-Laws IBC Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386353