https://www.taxtmi.com/caselaws?id=407008 Under Section 7 of the Insolvency and Bankruptcy Code, limitation runs from the date of default, with Article 137 of the Limitation Act applying. On the stated facts, the application was filed within three years of the relevant default dates, so the limitation objection failed. The record also showed an admitted borrowing relationship, an equitable mortgage, and non-repayment after an initial period of servicing. The text states that once default is established in a complete Section 7 application, admission follows, and the process was commenced with moratorium and appointment of an Interim Resolution Professional. en-us Fri, 09 Apr 2021 00:00:00 +0530 Wed, 28 Apr 2021 11:52:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407008 Under Section 7 of the Insolvency and Bankruptcy Code, limitation runs from the date of default, with Article 137 of the Limitation Act applying. On the stated facts, the application was filed within three years of the relevant default dates, so the limitation objection failed. The record also showed an admitted borrowing relationship, an equitable mortgage, and non-repayment after an initial period of servicing. The text states that once default is established in a complete Section 7 application, admission follows, and the process was commenced with moratorium and appointment of an Interim Resolution Professional. Case-Laws Insolvency and Bankruptcy Fri, 09 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407008