https://www.taxtmi.com/caselaws?id=397553 For a Section 7 insolvency application, limitation is governed by Article 137 of the Limitation Act and runs from the date of default. A later declaration of the account as NPA does not extend limitation where the record shows default had already occurred and the account had been treated as NPA earlier. On the facts noted, the application filed in October 2018 was beyond three years from the relevant default/NPA date, so it was not maintainable and the insolvency admission was set aside. en-us Thu, 12 Mar 2020 00:00:00 +0530 Sat, 22 Aug 2020 09:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397553 For a Section 7 insolvency application, limitation is governed by Article 137 of the Limitation Act and runs from the date of default. A later declaration of the account as NPA does not extend limitation where the record shows default had already occurred and the account had been treated as NPA earlier. On the facts noted, the application filed in October 2018 was beyond three years from the relevant default/NPA date, so it was not maintainable and the insolvency admission was set aside. Case-Laws Insolvency and Bankruptcy Thu, 12 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397553