https://www.taxtmi.com/caselaws?id=289791 A Section 7 insolvency application is subject to the Limitation Act, 1963 through Section 238A of the Insolvency and Bankruptcy Code, with Article 137 governing the three-year limitation period from the date of default. On the stated facts, the default date was treated as 23.05.2014 and the application was filed on 05.02.2019. Although two letters dated 08.09.2015 acknowledged liability, they could extend limitation only up to 07.09.2018. As the application was filed after that date and the limitation objection was not effectively rebutted, the claim was held time-barred and rejected. en-us Wed, 25 Sep 2019 00:00:00 +0530 Sat, 22 Aug 2020 09:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289791 A Section 7 insolvency application is subject to the Limitation Act, 1963 through Section 238A of the Insolvency and Bankruptcy Code, with Article 137 governing the three-year limitation period from the date of default. On the stated facts, the default date was treated as 23.05.2014 and the application was filed on 05.02.2019. Although two letters dated 08.09.2015 acknowledged liability, they could extend limitation only up to 07.09.2018. As the application was filed after that date and the limitation objection was not effectively rebutted, the claim was held time-barred and rejected. Case-Laws Insolvency and Bankruptcy Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289791