https://www.taxtmi.com/caselaws?id=290814 A Section 9 insolvency application was held to be governed by Article 137 of the Limitation Act, 1963, so a petition filed more than three years after default is barred unless there is a valid written acknowledgement of liability within the limitation period. The operational creditor relied on an invoice dated 10.05.2011 but initiated proceedings only on 28.05.2018, and no timely acknowledgement by the corporate debtor was shown. Section 18 of the Limitation Act was therefore inapplicable, making the insolvency petition time-barred and not maintainable. en-us Wed, 15 Jan 2020 00:00:00 +0530 Sat, 17 Oct 2020 12:02:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290814 A Section 9 insolvency application was held to be governed by Article 137 of the Limitation Act, 1963, so a petition filed more than three years after default is barred unless there is a valid written acknowledgement of liability within the limitation period. The operational creditor relied on an invoice dated 10.05.2011 but initiated proceedings only on 28.05.2018, and no timely acknowledgement by the corporate debtor was shown. Section 18 of the Limitation Act was therefore inapplicable, making the insolvency petition time-barred and not maintainable. Case-Laws Insolvency and Bankruptcy Wed, 15 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290814