https://www.taxtmi.com/caselaws?id=397394 The Appellate Tribunal determined that the Adjudicating Authority erred in admitting the petition under Section 9 of the I&B Code without addressing the limitation issue. The Operational Creditor's claim was deemed time-barred, as the balance confirmation dated 01st April 2017 did not reset the limitation period. Consequently, the Tribunal set aside the impugned Order and instructed the Adjudicating Authority to issue an appropriate Order concerning the payment of CIRP costs. The Corporate Debtor Company will remain under the governance of its Board of Directors. en-us Fri, 24 Jul 2020 00:00:00 +0530 Tue, 05 Nov 2024 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397394 The Appellate Tribunal determined that the Adjudicating Authority erred in admitting the petition under Section 9 of the I&B Code without addressing the limitation issue. The Operational Creditor's claim was deemed time-barred, as the balance confirmation dated 01st April 2017 did not reset the limitation period. Consequently, the Tribunal set aside the impugned Order and instructed the Adjudicating Authority to issue an appropriate Order concerning the payment of CIRP costs. The Corporate Debtor Company will remain under the governance of its Board of Directors. Case-Laws IBC Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397394