https://www.taxtmi.com/caselaws?id=296503 A section 9 application under the Insolvency and Bankruptcy Code is governed by Article 137 of the Limitation Act, with limitation running from the date default gives rise to the right to sue. On the facts discussed, only one invoice-based claim remained within time when the petition was filed, while the other claims were time-barred. The surviving claim was too small to meet the statutory minimum default threshold required for admission, even after interest was considered. The combined effect is that a section 9 petition must satisfy both limitation and the minimum default threshold before admission is possible. en-us Wed, 19 Aug 2020 00:00:00 +0530 Sat, 24 Jul 2021 09:12:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296503 A section 9 application under the Insolvency and Bankruptcy Code is governed by Article 137 of the Limitation Act, with limitation running from the date default gives rise to the right to sue. On the facts discussed, only one invoice-based claim remained within time when the petition was filed, while the other claims were time-barred. The surviving claim was too small to meet the statutory minimum default threshold required for admission, even after interest was considered. The combined effect is that a section 9 petition must satisfy both limitation and the minimum default threshold before admission is possible. Case-Laws Insolvency and Bankruptcy Wed, 19 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296503