CIRP Application Barred if Default Over Three Years Old, Unless Delay Condoned Under Limitation Act Section 5.

CIRP Application Barred if Default Over Three Years Old, Unless Delay Condoned Under Limitation Act Section 5. https://www.taxtmi.com/highlights?id=55194 Initiation of CIRP - "The right to sue", therefore, accrues when a default occurs. If the default has occurred over three years prior to the date of filing of the Application, the Application would be barred under Article 137 of the Limitation Act, save and except in those cases where, in the facts of the case, Section 5 of the Limitation Act may be applied to condone the delay in filing such Application". - AT en-us Sat, 17 Oct 2020 12:50:41 +0530 Sat, 17 Oct 2020 12:50:41 +0530 TaxTMI RSS Generator CIRP Application Barred if Default Over Three Years Old, Unless Delay Condoned Under Limitation Act Section 5. https://www.taxtmi.com/highlights?id=55194 Initiation of CIRP - "The right to sue", therefore, accrues when a default occurs. If the default has occurred over three years prior to the date of filing of the Application, the Application would be barred under Article 137 of the Limitation Act, save and except in those cases where, in the facts of the case, Section 5 of the Limitation Act may be applied to condone the delay in filing such Application". - AT Highlights Insolvency and Bankruptcy Sat, 17 Oct 2020 12:50:41 +0530 https://www.taxtmi.com/highlights?id=55194