https://www.taxtmi.com/caselaws?id=299067 The Tribunal dismissed the application for corporate insolvency resolution process under Section 9 of the Insolvency and Bankruptcy Code, 2016, as the claim by the operational creditor was deemed time-barred. The claim, arising from supplies made in 2011-12, was filed in 2017, exceeding the three-year limitation period. Despite the operational creditor's arguments on continuous transactions and follow-up actions, the Tribunal held that the lack of subsequent invoices after 2011 indicated discontinuity. Additionally, the Tribunal found insufficient evidence of acknowledgment of debt in the respondent company's financial statements, leading to the rejection of the claim as unenforceable in law. en-us Wed, 15 Mar 2017 00:00:00 +0530 Fri, 03 Dec 2021 08:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299067 The Tribunal dismissed the application for corporate insolvency resolution process under Section 9 of the Insolvency and Bankruptcy Code, 2016, as the claim by the operational creditor was deemed time-barred. The claim, arising from supplies made in 2011-12, was filed in 2017, exceeding the three-year limitation period. Despite the operational creditor's arguments on continuous transactions and follow-up actions, the Tribunal held that the lack of subsequent invoices after 2011 indicated discontinuity. Additionally, the Tribunal found insufficient evidence of acknowledgment of debt in the respondent company's financial statements, leading to the rejection of the claim as unenforceable in law. Case-Laws Insolvency and Bankruptcy Wed, 15 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299067