https://www.taxtmi.com/caselaws?id=395856 An application under Section 9 of the Insolvency and Bankruptcy Code was held to be time-barred because the date of default was taken as 7 October 2013 and the proceeding was filed only on 20 April 2018, beyond the three-year period under Article 137 of the Limitation Act. The 2017 cheques did not extend limitation because Section 18 requires a written, signed acknowledgment made before expiry of the limitation period; by then, the claim was already stale. The insolvency admission order could not stand, and the Section 9 proceedings were set aside. en-us Fri, 22 May 2020 00:00:00 +0530 Thu, 11 Jun 2020 10:02:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395856 An application under Section 9 of the Insolvency and Bankruptcy Code was held to be time-barred because the date of default was taken as 7 October 2013 and the proceeding was filed only on 20 April 2018, beyond the three-year period under Article 137 of the Limitation Act. The 2017 cheques did not extend limitation because Section 18 requires a written, signed acknowledgment made before expiry of the limitation period; by then, the claim was already stale. The insolvency admission order could not stand, and the Section 9 proceedings were set aside. Case-Laws Insolvency and Bankruptcy Fri, 22 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395856