https://www.taxtmi.com/caselaws?id=395360 The Tribunal rejected the contention that the debt was time-barred under the Limitation Act, finding the petition filed within the twelve-year limitation period. The Tribunal dismissed the Corporate Debtor's argument regarding the statement of accounts, stating it complied with requirements. The relevance of the Joint Lenders' Forum was deemed insignificant, focusing on debt and default. The Tribunal upheld the validity of the assignment of the debt, declaring the Corporate Debtor obligated to repay. Consequently, the petition was admitted, and an Interim Resolution Professional was appointed, initiating the Corporate Insolvency Resolution Process under Section 14 of the IBC. en-us Wed, 29 Jan 2020 00:00:00 +0530 Tue, 19 May 2020 10:28:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395360 The Tribunal rejected the contention that the debt was time-barred under the Limitation Act, finding the petition filed within the twelve-year limitation period. The Tribunal dismissed the Corporate Debtor's argument regarding the statement of accounts, stating it complied with requirements. The relevance of the Joint Lenders' Forum was deemed insignificant, focusing on debt and default. The Tribunal upheld the validity of the assignment of the debt, declaring the Corporate Debtor obligated to repay. Consequently, the petition was admitted, and an Interim Resolution Professional was appointed, initiating the Corporate Insolvency Resolution Process under Section 14 of the IBC. Case-Laws Insolvency and Bankruptcy Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395360