https://www.taxtmi.com/caselaws?id=406504 An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 must be brought within three years from the date of default, as Article 137 of the Limitation Act, 1963 applies to such proceedings. On the facts noted, the claim arose from invoices and work orders issued between 2010 and 2012, with the last payment received on 11.02.2013, while the application was filed only on 29.06.2018. The analysis treats the default as occurring on 01.07.2011 and states that a time-barred debt cannot be used to commence CIRP unless delay is duly condoned. en-us Tue, 19 Jan 2021 00:00:00 +0530 Mon, 28 Oct 2024 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406504 An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 must be brought within three years from the date of default, as Article 137 of the Limitation Act, 1963 applies to such proceedings. On the facts noted, the claim arose from invoices and work orders issued between 2010 and 2012, with the last payment received on 11.02.2013, while the application was filed only on 29.06.2018. The analysis treats the default as occurring on 01.07.2011 and states that a time-barred debt cannot be used to commence CIRP unless delay is duly condoned. Case-Laws IBC Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406504