https://www.taxtmi.com/caselaws?id=391065 The application under Section 7 of the Insolvency and Bankruptcy Code was found to be barred by limitation as per the judgment. The acknowledgment of debt did not extend the limitation period, and the application was deemed to be filed for executing a decree rather than for insolvency resolution or liquidation. The impugned order was set aside, releasing the Corporate Debtor from the Corporate Insolvency Resolution Process. All actions taken were declared illegal, and the matter was remitted to the NCLT for determining the fee and cost of the process to be borne by the Bank of India Limited. en-us Thu, 19 Dec 2019 00:00:00 +0530 Thu, 07 May 2020 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391065 The application under Section 7 of the Insolvency and Bankruptcy Code was found to be barred by limitation as per the judgment. The acknowledgment of debt did not extend the limitation period, and the application was deemed to be filed for executing a decree rather than for insolvency resolution or liquidation. The impugned order was set aside, releasing the Corporate Debtor from the Corporate Insolvency Resolution Process. All actions taken were declared illegal, and the matter was remitted to the NCLT for determining the fee and cost of the process to be borne by the Bank of India Limited. Case-Laws Insolvency and Bankruptcy Thu, 19 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391065