https://www.taxtmi.com/caselaws?id=781735 Disbursement of financial debt was held proved where a NeSL certificate and bank statements showed release of funds, and the corporate debtor had not disputed disbursement before the Adjudicating Authority. The Section 7 application was nevertheless found time-barred because default occurred on 19.09.2015 and the application was filed on 10.12.2019, beyond three years; later account entries did not extend limitation on the facts. Benefit of Section 14 of the Limitation Act was rejected because the pending recovery proceedings were not shown to suffer from want of jurisdiction or a comparable defect. The rejection of the Section 7 application was therefore upheld. en-us Tue, 07 Oct 2025 00:00:00 +0530 Wed, 19 Nov 2025 13:04:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781735 Disbursement of financial debt was held proved where a NeSL certificate and bank statements showed release of funds, and the corporate debtor had not disputed disbursement before the Adjudicating Authority. The Section 7 application was nevertheless found time-barred because default occurred on 19.09.2015 and the application was filed on 10.12.2019, beyond three years; later account entries did not extend limitation on the facts. Benefit of Section 14 of the Limitation Act was rejected because the pending recovery proceedings were not shown to suffer from want of jurisdiction or a comparable defect. The rejection of the Section 7 application was therefore upheld. Case-Laws IBC Tue, 07 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781735