https://www.taxtmi.com/caselaws?id=403958 An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is assessed under Article 137 of the Limitation Act, 1963 from the date of default. A revival letter may extend limitation only to the extent permitted by law, but a later one-time settlement proposal does not by itself shift the default date or extend limitation. The adjudicating authority must examine limitation even if not specifically pleaded by the respondent. A continuing cause of action was rejected, and the debt was treated as time-barred on the material placed on record, so the Section 7 application could not be admitted. en-us Wed, 06 Jan 2021 00:00:00 +0530 Thu, 11 Feb 2021 20:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403958 An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is assessed under Article 137 of the Limitation Act, 1963 from the date of default. A revival letter may extend limitation only to the extent permitted by law, but a later one-time settlement proposal does not by itself shift the default date or extend limitation. The adjudicating authority must examine limitation even if not specifically pleaded by the respondent. A continuing cause of action was rejected, and the debt was treated as time-barred on the material placed on record, so the Section 7 application could not be admitted. Case-Laws Insolvency and Bankruptcy Wed, 06 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403958