https://www.taxtmi.com/caselaws?id=386732 Applications under section 7 of the Insolvency and Bankruptcy Code are subject to the Limitation Act, 1963 from the Code's inception, and Article 137 supplies a three-year period running from the date of default. On the stated facts, default occurred in 2009 and the application was filed in July 2018, so the claim was time-barred. A prior demand notice and pending DRT/SARFAESI proceedings did not extend limitation, and no acknowledgment of debt within three years was shown to attract section 18 of the Limitation Act. en-us Tue, 23 Jul 2019 00:00:00 +0530 Mon, 07 Oct 2019 21:32:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386732 Applications under section 7 of the Insolvency and Bankruptcy Code are subject to the Limitation Act, 1963 from the Code's inception, and Article 137 supplies a three-year period running from the date of default. On the stated facts, default occurred in 2009 and the application was filed in July 2018, so the claim was time-barred. A prior demand notice and pending DRT/SARFAESI proceedings did not extend limitation, and no acknowledgment of debt within three years was shown to attract section 18 of the Limitation Act. Case-Laws Insolvency and Bankruptcy Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386732