https://www.taxtmi.com/caselaws?id=403561 An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was examined against limitation and the nature of the underlying EPC claim. The continuing contractual relationship, suspension of work for non-payment, correspondence between the parties, and absence of termination supported the view that the debt remained subsisting and that limitation under Article 137, as applied through Section 238A, did not bar the application. The claim was also treated as operational debt because it arose from supply of goods and services under the EPC arrangement. The plea that the contract had been frustrated by efflux of time failed, and the insolvency application was sustained. en-us Mon, 01 Feb 2021 00:00:00 +0530 Tue, 02 Feb 2021 14:42:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403561 An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was examined against limitation and the nature of the underlying EPC claim. The continuing contractual relationship, suspension of work for non-payment, correspondence between the parties, and absence of termination supported the view that the debt remained subsisting and that limitation under Article 137, as applied through Section 238A, did not bar the application. The claim was also treated as operational debt because it arose from supply of goods and services under the EPC arrangement. The plea that the contract had been frustrated by efflux of time failed, and the insolvency application was sustained. Case-Laws Insolvency and Bankruptcy Mon, 01 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403561