https://www.taxtmi.com/caselaws?id=295928 The Tribunal dismissed the Application seeking condonation of delay in filing the Company Petition under Section 9 of IBC, 2016, invoking Section 5 of the Limitation Act, 1963. The Tribunal held that the delay of 230 days was not sufficiently justified, as the Applicant failed to provide a satisfactory explanation for the delay. Emphasizing the strict adherence to the limitation period, the Tribunal reiterated the applicability of the Limitation Act from the inception of the Code, in line with Supreme Court precedents. en-us Tue, 29 Sep 2020 00:00:00 +0530 Fri, 25 Jun 2021 07:12:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295928 The Tribunal dismissed the Application seeking condonation of delay in filing the Company Petition under Section 9 of IBC, 2016, invoking Section 5 of the Limitation Act, 1963. The Tribunal held that the delay of 230 days was not sufficiently justified, as the Applicant failed to provide a satisfactory explanation for the delay. Emphasizing the strict adherence to the limitation period, the Tribunal reiterated the applicability of the Limitation Act from the inception of the Code, in line with Supreme Court precedents. Case-Laws Insolvency and Bankruptcy Tue, 29 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295928