https://www.taxtmi.com/caselaws?id=397393 The appeal in this case centered on whether the Application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) was time-barred. The Tribunal held that the Application, filed more than 11 years after the default, was indeed time-barred under the Limitation Act. The acknowledgment of debt in a later agreement did not extend the limitation period. Citing relevant case law, the Tribunal set aside the Adjudicating Authority's decision to admit the Application, directing appropriate action on CIRP costs and governance of the Corporate Debtor Company. en-us Fri, 24 Jul 2020 00:00:00 +0530 Tue, 16 Nov 2021 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397393 The appeal in this case centered on whether the Application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) was time-barred. The Tribunal held that the Application, filed more than 11 years after the default, was indeed time-barred under the Limitation Act. The acknowledgment of debt in a later agreement did not extend the limitation period. Citing relevant case law, the Tribunal set aside the Adjudicating Authority's decision to admit the Application, directing appropriate action on CIRP costs and governance of the Corporate Debtor Company. Case-Laws Insolvency and Bankruptcy Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397393