https://www.taxtmi.com/caselaws?id=391936 A section 9 Insolvency and Bankruptcy Code petition must be filed within three years of default under Article 137 of the Limitation Act, unless limitation is extended by a valid acknowledgement or part-payment; here, the latest possible default dates fell in 2014 and the petition filed in 2018 was time-barred. The operational creditor also failed to prove service of the invoices and demand notice through supporting records such as acknowledgments, delivery proof, postal evidence, or tracking material, and the cheque correspondence did not establish a clear nexus between the debt and the pleaded default. On the facts recorded, the debt and default were not satisfactorily proved, so insolvency resolution could not be initiated. en-us Mon, 25 Nov 2019 00:00:00 +0530 Wed, 05 Feb 2020 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391936 A section 9 Insolvency and Bankruptcy Code petition must be filed within three years of default under Article 137 of the Limitation Act, unless limitation is extended by a valid acknowledgement or part-payment; here, the latest possible default dates fell in 2014 and the petition filed in 2018 was time-barred. The operational creditor also failed to prove service of the invoices and demand notice through supporting records such as acknowledgments, delivery proof, postal evidence, or tracking material, and the cheque correspondence did not establish a clear nexus between the debt and the pleaded default. On the facts recorded, the debt and default were not satisfactorily proved, so insolvency resolution could not be initiated. Case-Laws Insolvency and Bankruptcy Mon, 25 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391936