https://www.taxtmi.com/caselaws?id=408425 A Section 7 Insolvency and Bankruptcy Code application must be filed within three years from the date of default under Article 137 of the Limitation Act. The Tribunal noted that the application did not plead the date of default in Part IV and the record lacked material showing acknowledgment of debt or any other valid basis for extension or exclusion of time. Prior recovery proceedings and the provisions on limitation did not save the claim. The debt was therefore treated as time-barred and the application was rejected. en-us Tue, 01 Jun 2021 00:00:00 +0530 Thu, 10 Jun 2021 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408425 A Section 7 Insolvency and Bankruptcy Code application must be filed within three years from the date of default under Article 137 of the Limitation Act. The Tribunal noted that the application did not plead the date of default in Part IV and the record lacked material showing acknowledgment of debt or any other valid basis for extension or exclusion of time. Prior recovery proceedings and the provisions on limitation did not save the claim. The debt was therefore treated as time-barred and the application was rejected. Case-Laws Insolvency and Bankruptcy Tue, 01 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408425