https://www.taxtmi.com/caselaws?id=291525 An application under Section 7 of the Insolvency and Bankruptcy Code was treated as time-barred because limitation was held to run from the date of default, not from the commencement of the Code. The Tribunal noted that the debt and default had already been the subject of recovery proceedings and an adjudicated decree long before the insolvency filing, and that the application was brought after an inordinate delay while recovery efforts continued. On those facts, the matter was found to be essentially a debt recovery dispute rather than a suitable case for corporate insolvency resolution, and the application was rejected. en-us Fri, 08 Nov 2019 00:00:00 +0530 Fri, 13 Nov 2020 21:17:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291525 An application under Section 7 of the Insolvency and Bankruptcy Code was treated as time-barred because limitation was held to run from the date of default, not from the commencement of the Code. The Tribunal noted that the debt and default had already been the subject of recovery proceedings and an adjudicated decree long before the insolvency filing, and that the application was brought after an inordinate delay while recovery efforts continued. On those facts, the matter was found to be essentially a debt recovery dispute rather than a suitable case for corporate insolvency resolution, and the application was rejected. Case-Laws Insolvency and Bankruptcy Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291525