https://www.taxtmi.com/caselaws?id=448498 The NCLAT dismissed a recall application seeking to overturn an earlier order that had rejected an appeal. The original appeal was dismissed because the court found valid debt and default existed, and the Section 7 application by the financial creditor was within limitation. The NCLAT held that no grounds existed for recall as there was no fraud, collusion, error, mistake, or procedural defect like non-service of necessary parties. The tribunal determined the applicant was attempting to re-argue previously decided issues including limitation, acknowledgement under Section 18 of the Limitation Act 1963, and locus standi, which exceeded the tribunal's limited jurisdiction for recall applications. en-us Thu, 18 Jan 2024 00:00:00 +0530 Sat, 20 Jan 2024 08:22:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448498 The NCLAT dismissed a recall application seeking to overturn an earlier order that had rejected an appeal. The original appeal was dismissed because the court found valid debt and default existed, and the Section 7 application by the financial creditor was within limitation. The NCLAT held that no grounds existed for recall as there was no fraud, collusion, error, mistake, or procedural defect like non-service of necessary parties. The tribunal determined the applicant was attempting to re-argue previously decided issues including limitation, acknowledgement under Section 18 of the Limitation Act 1963, and locus standi, which exceeded the tribunal's limited jurisdiction for recall applications. Case-Laws Insolvency and Bankruptcy Thu, 18 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448498