https://www.taxtmi.com/caselaws?id=776533 Insolvency proceedings based on a recovery certificate remain subject to the three-year limitation period under Article 137 of the Limitation Act. Although a recovery certificate may create a fresh cause of action, it does not extend the limitation period for an application under the Insolvency and Bankruptcy Code to 12 years under Article 136. An acknowledgment made after limitation has expired cannot revive a time-barred claim. Consequently, the Section 95 application was barred by limitation, and the claim for a 12-year limitation period was rejected. en-us Fri, 08 Aug 2025 00:00:00 +0530 Wed, 13 Aug 2025 07:27:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776533 Insolvency proceedings based on a recovery certificate remain subject to the three-year limitation period under Article 137 of the Limitation Act. Although a recovery certificate may create a fresh cause of action, it does not extend the limitation period for an application under the Insolvency and Bankruptcy Code to 12 years under Article 136. An acknowledgment made after limitation has expired cannot revive a time-barred claim. Consequently, the Section 95 application was barred by limitation, and the claim for a 12-year limitation period was rejected. Case-Laws IBC Fri, 08 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776533