https://www.taxtmi.com/caselaws?id=784457 A Section 9 IBC application is governed by the residuary limitation period under Article 137 of the Limitation Act, not Article 1, because it is not a suit on mutual, open and current accounts with reciprocal demands; limitation runs from the date the operational creditor's right to apply accrues, and the application was therefore time-barred. For computing the insolvency threshold, the principal debt below the statutory minimum could not be inflated by interest unless contractual agreement for delayed-payment interest was shown; a unilateral invoice stipulation or inconsistent interest figures were insufficient. The admission order was thus unsustainable because both limitation and the threshold requirement failed. en-us Tue, 16 Sep 2025 00:00:00 +0530 Tue, 06 Jan 2026 08:47:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784457 A Section 9 IBC application is governed by the residuary limitation period under Article 137 of the Limitation Act, not Article 1, because it is not a suit on mutual, open and current accounts with reciprocal demands; limitation runs from the date the operational creditor's right to apply accrues, and the application was therefore time-barred. For computing the insolvency threshold, the principal debt below the statutory minimum could not be inflated by interest unless contractual agreement for delayed-payment interest was shown; a unilateral invoice stipulation or inconsistent interest figures were insufficient. The admission order was thus unsustainable because both limitation and the threshold requirement failed. Case-Laws IBC Tue, 16 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784457