https://www.taxtmi.com/caselaws?id=293247 An application under section 9 of the Insolvency and Bankruptcy Code was held to be governed by article 137 of the Limitation Act, 1963, so the three-year limitation period ran from the last relevant date of default. In the absence of any payment or acknowledgment of liability within that period, section 18 of the Limitation Act did not extend time and the petition was barred by limitation. The operational creditor also failed to prove debt and default on merits because the record did not satisfactorily show receipt of invoices or delivery of goods, and no delivery challans or comparable evidence was produced. en-us Wed, 13 Nov 2019 00:00:00 +0530 Wed, 13 Nov 2024 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293247 An application under section 9 of the Insolvency and Bankruptcy Code was held to be governed by article 137 of the Limitation Act, 1963, so the three-year limitation period ran from the last relevant date of default. In the absence of any payment or acknowledgment of liability within that period, section 18 of the Limitation Act did not extend time and the petition was barred by limitation. The operational creditor also failed to prove debt and default on merits because the record did not satisfactorily show receipt of invoices or delivery of goods, and no delivery challans or comparable evidence was produced. Case-Laws IBC Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293247