https://www.taxtmi.com/caselaws?id=790771 For a Section 7 insolvency application, limitation runs from the date of default under Article 137 of the Limitation Act, 1963; here, the account's classification as a non-performing asset on 06.12.2016 fixed the starting point, not a later recovery step. On that basis, the three-year limitation period expired on 06.12.2019, and the petition filed in 2024 was time-barred even after accounting for excluded periods. Admission of a claim by the Interim Resolution Professional was held to be only an administrative collation of claims and not a conscious, unequivocal acknowledgment of liability under Section 18 of the Limitation Act. en-us Wed, 29 Apr 2026 00:00:00 +0530 Thu, 30 Apr 2026 07:19:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790771 For a Section 7 insolvency application, limitation runs from the date of default under Article 137 of the Limitation Act, 1963; here, the account's classification as a non-performing asset on 06.12.2016 fixed the starting point, not a later recovery step. On that basis, the three-year limitation period expired on 06.12.2019, and the petition filed in 2024 was time-barred even after accounting for excluded periods. Admission of a claim by the Interim Resolution Professional was held to be only an administrative collation of claims and not a conscious, unequivocal acknowledgment of liability under Section 18 of the Limitation Act. Case-Laws IBC Wed, 29 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790771