https://www.taxtmi.com/caselaws?id=298793 The Tribunal dismissed the application filed under Section 9 of the IBC for recovery of a sum of Rs. 55,66,694.76, ruling it as time-barred and lacking sufficient evidence to establish the amount as due and payable. The petitioner failed to demonstrate that the transactions constituted a running account, most invoices provided were beyond the 3-year limitation period, and the claim for interest was deemed unjustified. The application was found to be within the NCLT's jurisdiction at the time of filing, but ultimately, CP (IB) No. 152/CTB/2019 was dismissed. en-us Tue, 02 Mar 2021 00:00:00 +0530 Thu, 19 May 2022 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298793 The Tribunal dismissed the application filed under Section 9 of the IBC for recovery of a sum of Rs. 55,66,694.76, ruling it as time-barred and lacking sufficient evidence to establish the amount as due and payable. The petitioner failed to demonstrate that the transactions constituted a running account, most invoices provided were beyond the 3-year limitation period, and the claim for interest was deemed unjustified. The application was found to be within the NCLT's jurisdiction at the time of filing, but ultimately, CP (IB) No. 152/CTB/2019 was dismissed. Case-Laws Insolvency and Bankruptcy Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298793