https://www.taxtmi.com/caselaws?id=776533 Applications under Section 95 of the Insolvency and Bankruptcy Code based on a recovery certificate are treated as governed by Article 137 of the Limitation Act, giving a three-year limitation period. A recovery certificate may create a fresh cause of action, but it does not extend the period for initiating insolvency proceedings to 12 years under Article 136. The article also notes that acknowledgment after expiry of limitation does not revive a stale claim. On that basis, the Section 95 application is described as time-barred and the 12-year limitation argument as 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 Applications under Section 95 of the Insolvency and Bankruptcy Code based on a recovery certificate are treated as governed by Article 137 of the Limitation Act, giving a three-year limitation period. A recovery certificate may create a fresh cause of action, but it does not extend the period for initiating insolvency proceedings to 12 years under Article 136. The article also notes that acknowledgment after expiry of limitation does not revive a stale claim. On that basis, the Section 95 application is described as time-barred and the 12-year limitation argument as rejected. Case-Laws IBC Fri, 08 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776533