https://www.taxtmi.com/caselaws?id=444672 A recovery certificate can give rise to a fresh cause of action for initiating CIRP within three years of its issuance, so the Section 7 application was not barred for the 2017 certificates; however, a post-filing letter could not revive a time-barred proceeding without amendment of pleadings, and any Section 18 acknowledgment had to operate within limitation. The doctrine of election did not bar insolvency recourse after earlier SARFAESI and DRT steps because those remedies were not mutually exclusive on these facts. The 2015 recovery certificate was left for separate examination, with liberty to segregate that component if needed. The appeal therefore did not succeed on the principal grounds. en-us Wed, 18 Oct 2023 00:00:00 +0530 Fri, 20 Oct 2023 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444672 A recovery certificate can give rise to a fresh cause of action for initiating CIRP within three years of its issuance, so the Section 7 application was not barred for the 2017 certificates; however, a post-filing letter could not revive a time-barred proceeding without amendment of pleadings, and any Section 18 acknowledgment had to operate within limitation. The doctrine of election did not bar insolvency recourse after earlier SARFAESI and DRT steps because those remedies were not mutually exclusive on these facts. The 2015 recovery certificate was left for separate examination, with liberty to segregate that component if needed. The appeal therefore did not succeed on the principal grounds. Case-Laws Insolvency and Bankruptcy Wed, 18 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444672