https://www.taxtmi.com/caselaws?id=301377 An application under Section 7 of the Insolvency and Bankruptcy Code was held time-barred because the default occurred in 1996, the recovery suit was decreed in 2005, and execution was still pending, placing the insolvency claim beyond limitation. The filing was also found to be a malicious use of the insolvency process rather than a genuine attempt at resolution or liquidation, attracting Section 65. On these grounds, the insolvency application was not maintainable and the appeal failed. en-us Tue, 17 Dec 2019 00:00:00 +0530 Fri, 01 Apr 2022 08:35:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301377 An application under Section 7 of the Insolvency and Bankruptcy Code was held time-barred because the default occurred in 1996, the recovery suit was decreed in 2005, and execution was still pending, placing the insolvency claim beyond limitation. The filing was also found to be a malicious use of the insolvency process rather than a genuine attempt at resolution or liquidation, attracting Section 65. On these grounds, the insolvency application was not maintainable and the appeal failed. Case-Laws Insolvency and Bankruptcy Tue, 17 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301377