https://www.taxtmi.com/caselaws?id=299562 The National Company Law Tribunal rejected an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, citing limitation due to a default in payment by the Corporate Debtor. The Appellant, 'Bombay Stock Exchange Limited,' argued that the debt was due since April 1, 2014. The Tribunal found the application not time-barred as the right to apply accrued on April 1, 2017. Despite the Corporate Debtor's non-appearance, the Tribunal set aside the rejection order, directing the Adjudicating Authority to admit the application. Failure to appear may lead to initiating the Corporate Insolvency Resolution Process. en-us Fri, 05 Apr 2019 00:00:00 +0530 Fri, 20 Feb 2026 17:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299562 The National Company Law Tribunal rejected an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, citing limitation due to a default in payment by the Corporate Debtor. The Appellant, 'Bombay Stock Exchange Limited,' argued that the debt was due since April 1, 2014. The Tribunal found the application not time-barred as the right to apply accrued on April 1, 2017. Despite the Corporate Debtor's non-appearance, the Tribunal set aside the rejection order, directing the Adjudicating Authority to admit the application. Failure to appear may lead to initiating the Corporate Insolvency Resolution Process. Case-Laws Insolvency and Bankruptcy Fri, 05 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299562