https://www.taxtmi.com/caselaws?id=397394 An application under Section 9 of the Insolvency and Bankruptcy Code is subject to the three-year limitation period under Article 137 of the Limitation Act from the date of default. Acknowledgment of debt under Section 18 and part payment under Section 19 extend limitation only if made before expiry of the prescribed period. Where the balance confirmation and alleged part payment occur after limitation has already run, they cannot revive the claim. Limitation is mandatory under Section 3 of the Limitation Act and must be examined by the Adjudicating Authority when considering admission of an insolvency application. 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 An application under Section 9 of the Insolvency and Bankruptcy Code is subject to the three-year limitation period under Article 137 of the Limitation Act from the date of default. Acknowledgment of debt under Section 18 and part payment under Section 19 extend limitation only if made before expiry of the prescribed period. Where the balance confirmation and alleged part payment occur after limitation has already run, they cannot revive the claim. Limitation is mandatory under Section 3 of the Limitation Act and must be examined by the Adjudicating Authority when considering admission of an insolvency application. Case-Laws IBC Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397394