https://www.taxtmi.com/caselaws?id=419326 A Section 7 application under the Insolvency and Bankruptcy Code is governed by Article 137 of the Limitation Act, and limitation may run afresh from a decree or recovery certificate. Here, the application was filed after the decree dated 06.05.2011 and recovery certificates dated 22.12.2011, while the later dismissal of the corporate debtor's appeal on 14.02.2017 did not revive or extend limitation. The plea based on one-time settlement offers and alleged acknowledgment was insufficient on the facts found to save limitation, and the adjudicating authority had not addressed the limitation objection before admission. The admission order was set aside and the insolvency application was dismissed as time-barred. en-us Mon, 07 Mar 2022 00:00:00 +0530 Wed, 09 Mar 2022 08:28:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419326 A Section 7 application under the Insolvency and Bankruptcy Code is governed by Article 137 of the Limitation Act, and limitation may run afresh from a decree or recovery certificate. Here, the application was filed after the decree dated 06.05.2011 and recovery certificates dated 22.12.2011, while the later dismissal of the corporate debtor's appeal on 14.02.2017 did not revive or extend limitation. The plea based on one-time settlement offers and alleged acknowledgment was insufficient on the facts found to save limitation, and the adjudicating authority had not addressed the limitation objection before admission. The admission order was set aside and the insolvency application was dismissed as time-barred. Case-Laws Insolvency and Bankruptcy Mon, 07 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419326