https://www.taxtmi.com/caselaws?id=397592 An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is governed by Article 137 of the Limitation Act, 1963, so the three-year period runs from the date of default. Recovery proceedings, compromise terms, assignment, and an amended recovery certificate did not extend limitation because there was no valid acknowledgment in writing by the corporate debtor within time. Section 18 of the Limitation Act was therefore not attracted, and Section 14 was inapplicable because the earlier proceedings were not shown to suffer from want of jurisdiction. A time-barred debt cannot be revived for insolvency purposes merely by invoking the Code as a recovery tool. en-us Wed, 05 Feb 2020 00:00:00 +0530 Sat, 22 Aug 2020 22:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397592 An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is governed by Article 137 of the Limitation Act, 1963, so the three-year period runs from the date of default. Recovery proceedings, compromise terms, assignment, and an amended recovery certificate did not extend limitation because there was no valid acknowledgment in writing by the corporate debtor within time. Section 18 of the Limitation Act was therefore not attracted, and Section 14 was inapplicable because the earlier proceedings were not shown to suffer from want of jurisdiction. A time-barred debt cannot be revived for insolvency purposes merely by invoking the Code as a recovery tool. Case-Laws Insolvency and Bankruptcy Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397592