https://www.taxtmi.com/caselaws?id=395506 Limitation for a section 7 IBC application runs from the date of default under Article 137 of the Limitation Act, so a filing beyond three years is time-barred. SARFAESI enforcement steps do not qualify as civil proceedings for exclusion under section 14(2), and an acknowledgment must be valid, written, signed, and within limitation to attract section 18. On the stated facts, the default date was 30.06.2014 and the section 7 application filed on 08.11.2017 was delayed; the admission order was therefore unsustainable and the insolvency proceeding could not continue. en-us Fri, 22 May 2020 00:00:00 +0530 Wed, 06 Nov 2024 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395506 Limitation for a section 7 IBC application runs from the date of default under Article 137 of the Limitation Act, so a filing beyond three years is time-barred. SARFAESI enforcement steps do not qualify as civil proceedings for exclusion under section 14(2), and an acknowledgment must be valid, written, signed, and within limitation to attract section 18. On the stated facts, the default date was 30.06.2014 and the section 7 application filed on 08.11.2017 was delayed; the admission order was therefore unsustainable and the insolvency proceeding could not continue. Case-Laws IBC Fri, 22 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395506