Limitation under Article 137 bars belated insolvency applications invoking guarantees; delayed Section 94 invocation dismissed as time barred. https://www.taxtmi.com/highlights?id=96916 Application under the Insolvency Code seeking initiation of insolvency via a guarantor was time barred under the Limitation Act: the tribunal applied the Article 137 three year limitation to applications under Section 94 and found that invocation of the guarantee in 2016-2017, after NPAs declared in 2013-2014, and the applicants' knowledge of potential insolvency filing rendered the 2023 filing barred. Pending debt recovery/security enforcement proceedings did not extend or exclude the limitation period sufficient to save the belated application, which was dismissed. en-us Mon, 16 Feb 2026 09:56:50 +0530 Mon, 16 Feb 2026 09:56:49 +0530 TaxTMI RSS Generator Limitation under Article 137 bars belated insolvency applications invoking guarantees; delayed Section 94 invocation dismissed as time barred. https://www.taxtmi.com/highlights?id=96916 Application under the Insolvency Code seeking initiation of insolvency via a guarantor was time barred under the Limitation Act: the tribunal applied the Article 137 three year limitation to applications under Section 94 and found that invocation of the guarantee in 2016-2017, after NPAs declared in 2013-2014, and the applicants' knowledge of potential insolvency filing rendered the 2023 filing barred. Pending debt recovery/security enforcement proceedings did not extend or exclude the limitation period sufficient to save the belated application, which was dismissed. Highlights IBC Mon, 16 Feb 2026 09:56:50 +0530 https://www.taxtmi.com/highlights?id=96916