https://www.taxtmi.com/caselaws?id=291120 An application under Section 9 of the Insolvency and Bankruptcy Code was held time-barred because Article 137 of the Limitation Act, read with Section 238-A of the Code, applies to Sections 7 and 9 proceedings and the three-year period runs from accrual of the right to apply. The invoice was raised in 2014, but the demand notice was issued only in 2019, leaving an unexplained gap of more than five years. The debtor's reply to the demand notice did not create a fresh cause of action for limitation purposes. The claim was therefore treated as stale and the application was liable to be dismissed. en-us Thu, 05 Dec 2019 00:00:00 +0530 Wed, 28 Oct 2020 19:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291120 An application under Section 9 of the Insolvency and Bankruptcy Code was held time-barred because Article 137 of the Limitation Act, read with Section 238-A of the Code, applies to Sections 7 and 9 proceedings and the three-year period runs from accrual of the right to apply. The invoice was raised in 2014, but the demand notice was issued only in 2019, leaving an unexplained gap of more than five years. The debtor's reply to the demand notice did not create a fresh cause of action for limitation purposes. The claim was therefore treated as stale and the application was liable to be dismissed. Case-Laws Insolvency and Bankruptcy Thu, 05 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291120