2019 (5) TMI 1680

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....irperson) AND Justice Bansi Lal Bhat, Member (Judicial) For Appellant: Mr. Vishwas K. Shah with Ms Bhavna V. Shah, Ms Aastha Mehta, Mr. Divyang Chandiramani, Advocates. For Respondents: Mr. Ramji Srinivasan, Senior Advocate with Ms Neha Naik and Ms Sylona Mohapatra, Advocates. Mr. Mudit Sharma, CRP. JUDGMENT SUDHANSU JYOTI MUKHOPADHAYA, J. Asset Reconstruction Company (India) Limited (hereina....

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....lication under Section 7 of the I&B Code was not maintainable. Learned counsel for the appellant referred to the decision of Debt Recovery Tribunal, Ahmedabad dated 10.6.2016 passed in SA No.24/2016 under Section 17 of the Securitisation and reconstruction and Enforcement of Security Interest Act, 2002 whereby assignment deed dated 28.3.2014 in favour of Respondent, ARCIL, has been declared to be ....

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....s attracted. 5. Learned counsel appearing on behalf of the Respondent, ARCIL submitted that there is no denial of debt and default by Corporate Debtor or the appellant. It is submitted that the order passed by the Debt Recovery Tribunal, Ahmedabad as relied by the appellant has already been set aside and quashed by the Hon'ble Gujarat High Court which fact has been suppressed by the appellant. It....

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....of application Period of limitation Time from which Period begins to run 137. Any other application For which no period of Limitation is provided Elsewhere in this Division. Three years When the right to apply accrues In the said case the Appellate Tribunal has held that I&B Code having come into force on 1st December, 2016, the right to file application under Section 7 accrues o....