https://www.taxtmi.com/caselaws?id=434856 The Tribunal rejected the application for the initiation of Corporate Insolvency Resolution Process under section 7 of the Insolvency & Bankruptcy Code, 2016, against the Corporate Debtor. The Financial Creditor's claim for a default amount of Rs.28,26,69,996/- was dismissed as time-barred due to the expiration of the limitation period before the Covid-19 extension. The Corporate Debtor admitted to the loans but disputed the amount claimed. The Tribunal clarified that the dismissal did not prejudice the petitioner's rights in other forums and did not express an opinion on the merits of the case. en-us Fri, 24 Feb 2023 00:00:00 +0530 Mon, 06 Mar 2023 11:18:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434856 The Tribunal rejected the application for the initiation of Corporate Insolvency Resolution Process under section 7 of the Insolvency & Bankruptcy Code, 2016, against the Corporate Debtor. The Financial Creditor's claim for a default amount of Rs.28,26,69,996/- was dismissed as time-barred due to the expiration of the limitation period before the Covid-19 extension. The Corporate Debtor admitted to the loans but disputed the amount claimed. The Tribunal clarified that the dismissal did not prejudice the petitioner's rights in other forums and did not express an opinion on the merits of the case. Case-Laws Insolvency and Bankruptcy Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434856