https://www.taxtmi.com/caselaws?id=291745 Section 7 insolvency applications are governed by the three-year limitation period under Article 137 of the Limitation Act, running from the date of default; an application filed beyond that period cannot be admitted. Home-buyer applications also require scrutiny of whether the insolvency process is being invoked for genuine resolution. Where possession is available, the completion certificate has been obtained, partial compensation has been received, and the claim substantially seeks further compensation, the application may be unsuitable for admission. Compensation claims remain pursuable before the appropriate forum. en-us Thu, 17 Oct 2019 00:00:00 +0530 Tue, 24 Nov 2020 09:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291745 Section 7 insolvency applications are governed by the three-year limitation period under Article 137 of the Limitation Act, running from the date of default; an application filed beyond that period cannot be admitted. Home-buyer applications also require scrutiny of whether the insolvency process is being invoked for genuine resolution. Where possession is available, the completion certificate has been obtained, partial compensation has been received, and the claim substantially seeks further compensation, the application may be unsuitable for admission. Compensation claims remain pursuable before the appropriate forum. Case-Laws Insolvency and Bankruptcy Thu, 17 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291745