https://www.taxtmi.com/caselaws?id=301029 The Tribunal rejected the petition to initiate corporate insolvency resolution process under Section 7 of the Insolvency and Bankruptcy Code as it was time-barred. The Petitioner, a Financial Creditor, claimed default on a loan by the Respondent company, providing detailed documentation. The Respondent contested, arguing the claim exceeded the limitation period. The Tribunal found the default date was 29.09.2015 with no subsequent payment, applying the Limitation Act. Consequently, the petition was dismissed, and no costs were awarded, with the order communicated to both parties. en-us Mon, 22 Mar 2021 00:00:00 +0530 Wed, 09 Mar 2022 08:27:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301029 The Tribunal rejected the petition to initiate corporate insolvency resolution process under Section 7 of the Insolvency and Bankruptcy Code as it was time-barred. The Petitioner, a Financial Creditor, claimed default on a loan by the Respondent company, providing detailed documentation. The Respondent contested, arguing the claim exceeded the limitation period. The Tribunal found the default date was 29.09.2015 with no subsequent payment, applying the Limitation Act. Consequently, the petition was dismissed, and no costs were awarded, with the order communicated to both parties. Case-Laws Insolvency and Bankruptcy Mon, 22 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301029