https://www.taxtmi.com/caselaws?id=414468 The court dismissed the petition for the initiation of Corporate Insolvency Resolution Process under section 9 of the Insolvency & Bankruptcy Code, 2016. The Corporate Debtor successfully argued that the Demand Notice and Petition were defective, incomplete, and time-barred under the Limitation Act, 1963. The court found issues with the serving of the Demand Notice, lack of compliance with rules, clubbing of separate contracts in a single petition, and absence of an express agreement for interest payment. The Petition was considered heavily time-barred due to the significant period from the last part payment, leading to its dismissal. en-us Mon, 04 Oct 2021 00:00:00 +0530 Tue, 09 Nov 2021 08:31:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414468 The court dismissed the petition for the initiation of Corporate Insolvency Resolution Process under section 9 of the Insolvency & Bankruptcy Code, 2016. The Corporate Debtor successfully argued that the Demand Notice and Petition were defective, incomplete, and time-barred under the Limitation Act, 1963. The court found issues with the serving of the Demand Notice, lack of compliance with rules, clubbing of separate contracts in a single petition, and absence of an express agreement for interest payment. The Petition was considered heavily time-barred due to the significant period from the last part payment, leading to its dismissal. Case-Laws Insolvency and Bankruptcy Mon, 04 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414468