https://www.taxtmi.com/caselaws?id=405358 An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was held barred by limitation where the debt had become time-barred and no valid acknowledgment of debt within the limitation period was shown. The NCLAT applied Article 137 of the Limitation Act, 1963 and held that the default date remains the relevant starting point for limitation; a subsequent recovery order or recovery certificate issued by the Debt Recovery Tribunal does not extend or shift that date. On the facts, the account had been declared NPA long before filing, so the admission order was set aside and the application was not maintainable. en-us Wed, 17 Mar 2021 00:00:00 +0530 Wed, 17 Mar 2021 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405358 An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was held barred by limitation where the debt had become time-barred and no valid acknowledgment of debt within the limitation period was shown. The NCLAT applied Article 137 of the Limitation Act, 1963 and held that the default date remains the relevant starting point for limitation; a subsequent recovery order or recovery certificate issued by the Debt Recovery Tribunal does not extend or shift that date. On the facts, the account had been declared NPA long before filing, so the admission order was set aside and the application was not maintainable. Case-Laws Insolvency and Bankruptcy Wed, 17 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405358