https://www.taxtmi.com/caselaws?id=394608 Applications under Section 7 of the Insolvency and Bankruptcy Code are governed by Article 137 of the Limitation Act, 1963, and limitation is a mixed question of law and fact. Where the date of default was 05.11.2014 and the petition was filed on 30.08.2018, the material must show a valid acknowledgment or other legally effective extension within time. Later settlement proposals, SARFAESI and DRT proceedings, guarantor payments, and earlier recovery steps did not extend limitation on the facts recorded, and no timely acknowledgment by the corporate debtor was established. The application was therefore time-barred, and the admission order was set aside. en-us Thu, 05 Mar 2020 00:00:00 +0530 Sat, 18 Apr 2020 14:31:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394608 Applications under Section 7 of the Insolvency and Bankruptcy Code are governed by Article 137 of the Limitation Act, 1963, and limitation is a mixed question of law and fact. Where the date of default was 05.11.2014 and the petition was filed on 30.08.2018, the material must show a valid acknowledgment or other legally effective extension within time. Later settlement proposals, SARFAESI and DRT proceedings, guarantor payments, and earlier recovery steps did not extend limitation on the facts recorded, and no timely acknowledgment by the corporate debtor was established. The application was therefore time-barred, and the admission order was set aside. Case-Laws Insolvency and Bankruptcy Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394608