https://www.taxtmi.com/caselaws?id=429736 The tribunal upheld the admission of the Section 7 application under the Insolvency and Bankruptcy Code, initiating the Corporate Insolvency Resolution Process against the corporate debtor. It determined that the application was not barred by limitation, considering the acknowledgment of debt and the nature of the transaction as a financial debt. The tribunal found that the demand for repayment arose in 2016, within the limitation period, dismissing the appellant's challenge and ruling in favor of the respondent without costs. en-us Wed, 02 Nov 2022 00:00:00 +0530 Fri, 04 Nov 2022 08:51:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429736 The tribunal upheld the admission of the Section 7 application under the Insolvency and Bankruptcy Code, initiating the Corporate Insolvency Resolution Process against the corporate debtor. It determined that the application was not barred by limitation, considering the acknowledgment of debt and the nature of the transaction as a financial debt. The tribunal found that the demand for repayment arose in 2016, within the limitation period, dismissing the appellant's challenge and ruling in favor of the respondent without costs. Case-Laws Insolvency and Bankruptcy Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429736