https://www.taxtmi.com/caselaws?id=397516 Limitation governed the maintainability of the section 7 Insolvency and Bankruptcy Code application because the relevant date was the date of default. The account had been classified as non-performing asset in 2004, the recall notice was issued in 2007, and the application was filed in 2018; on those facts, the debt was stale and time-barred. Article 137 of the Limitation Act applied, and there was no effective acknowledgement to extend limitation under section 18. The admission order was therefore unsustainable and the application was barred by limitation. en-us Fri, 29 May 2020 00:00:00 +0530 Fri, 21 Aug 2020 09:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397516 Limitation governed the maintainability of the section 7 Insolvency and Bankruptcy Code application because the relevant date was the date of default. The account had been classified as non-performing asset in 2004, the recall notice was issued in 2007, and the application was filed in 2018; on those facts, the debt was stale and time-barred. Article 137 of the Limitation Act applied, and there was no effective acknowledgement to extend limitation under section 18. The admission order was therefore unsustainable and the application was barred by limitation. Case-Laws Insolvency and Bankruptcy Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397516