https://www.taxtmi.com/caselaws?id=763666 For a section 7 application under the Insolvency and Bankruptcy Code, limitation runs from the date of default, treated here as the date the account was classified as a non-performing asset on 01.10.2012. Subsequent demand notices, settlement discussions, compromise proceedings and alleged acknowledgments did not, on the facts stated, alter that starting point or extend limitation. In the absence of a legally effective acknowledgment or other valid extension within time, the application filed later remained beyond limitation and was rejected as time-barred. en-us Fri, 20 Dec 2024 00:00:00 +0530 Tue, 24 Dec 2024 11:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763666 For a section 7 application under the Insolvency and Bankruptcy Code, limitation runs from the date of default, treated here as the date the account was classified as a non-performing asset on 01.10.2012. Subsequent demand notices, settlement discussions, compromise proceedings and alleged acknowledgments did not, on the facts stated, alter that starting point or extend limitation. In the absence of a legally effective acknowledgment or other valid extension within time, the application filed later remained beyond limitation and was rejected as time-barred. Case-Laws IBC Fri, 20 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763666