https://www.taxtmi.com/caselaws?id=401044 Applications under the Insolvency and Bankruptcy Code are subject to the Limitation Act, with Article 137 making limitation run from the date of default. Civil suits, Debt Recovery Tribunal proceedings, or issuance of recovery certificates do not create a fresh cause of action or revive the limitation period for a separate Section 7 insolvency application. The Adjudicating Authority must also examine limitation on its own under Section 3 of the Limitation Act. On that basis, the text states that a Section 7 application filed after expiry of limitation is time-barred and that an admission order based on it is unsustainable. en-us Tue, 24 Nov 2020 00:00:00 +0530 Thu, 26 Nov 2020 10:40:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401044 Applications under the Insolvency and Bankruptcy Code are subject to the Limitation Act, with Article 137 making limitation run from the date of default. Civil suits, Debt Recovery Tribunal proceedings, or issuance of recovery certificates do not create a fresh cause of action or revive the limitation period for a separate Section 7 insolvency application. The Adjudicating Authority must also examine limitation on its own under Section 3 of the Limitation Act. On that basis, the text states that a Section 7 application filed after expiry of limitation is time-barred and that an admission order based on it is unsustainable. Case-Laws Insolvency and Bankruptcy Tue, 24 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401044