https://www.taxtmi.com/caselaws?id=291752 Article 137 of the Limitation Act, 1963 applies to applications under sections 7 and 9 of the Insolvency and Bankruptcy Code, 2016 from the outset of the Code. A petition filed more than three years after the stated default date is time-barred unless the limitation period is extended by a valid acknowledgement of liability or part payment under sections 18 or 19 of the Limitation Act. On the facts stated, the application was filed beyond three years and no such saving circumstance was shown, so the section 9 petition was barred by limitation and could not be entertained on merits. en-us Tue, 17 Dec 2019 00:00:00 +0530 Tue, 24 Nov 2020 09:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291752 Article 137 of the Limitation Act, 1963 applies to applications under sections 7 and 9 of the Insolvency and Bankruptcy Code, 2016 from the outset of the Code. A petition filed more than three years after the stated default date is time-barred unless the limitation period is extended by a valid acknowledgement of liability or part payment under sections 18 or 19 of the Limitation Act. On the facts stated, the application was filed beyond three years and no such saving circumstance was shown, so the section 9 petition was barred by limitation and could not be entertained on merits. Case-Laws Insolvency and Bankruptcy Tue, 17 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291752