https://www.taxtmi.com/caselaws?id=427073 Limitation for a Section 9 application under the Insolvency and Bankruptcy Code is governed by Article 137 of the Limitation Act and ordinarily runs from default, but the period during which enforcement was legally barred under Section 22 of the Sick Industrial Companies Act must be excluded. On the facts described, the debtor's reference to BIFR meant the creditor could not enforce the claim until repeal of that Act on 01.12.2016, so the application was not time-barred. A pre-existing dispute must also be supported by real, substantive material existing before the demand notice; unsupported allegations about goods quality, cancelled orders, and losses did not suffice, so the Section 9 application remained maintainable. en-us Tue, 30 Aug 2022 00:00:00 +0530 Thu, 01 Sep 2022 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427073 Limitation for a Section 9 application under the Insolvency and Bankruptcy Code is governed by Article 137 of the Limitation Act and ordinarily runs from default, but the period during which enforcement was legally barred under Section 22 of the Sick Industrial Companies Act must be excluded. On the facts described, the debtor's reference to BIFR meant the creditor could not enforce the claim until repeal of that Act on 01.12.2016, so the application was not time-barred. A pre-existing dispute must also be supported by real, substantive material existing before the demand notice; unsupported allegations about goods quality, cancelled orders, and losses did not suffice, so the Section 9 application remained maintainable. Case-Laws Insolvency and Bankruptcy Tue, 30 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427073