2026 (5) TMI 279

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....al arises from an order passed by National Company Law Appellate Tribunal, New Delhi (for short "NCLAT") dated 24.07.2020 passed in Company Appeal (AT) (Insolvency) No. 1238/2019. By the impugned order NCLAT allowed the appeal of the suspended Director of the Corporate Debtor (for short, "CD") and set aside the order of the Adjudicating Authority admitting the petition of the appellant under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for short "IBC"), while holding the same to be barred by limitation. 3. The short submission on behalf of the appellant (i.e., an operational creditor, for short OC) is that while holding the application under Section 9 to be barred by limitation, the NCLAT had only taken note of the default date....

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.... 2018 and 30 November 2018, after which the application under Section 9 was filed on 10 January 2019; and (iv) There was a confirmation of accounts on 1 April 2017. 2. Issue notice, returnable in four weeks." 6. On service of notice, the respondent(s) has filed a counter affidavit. Submission on behalf of the respondent(s) is that the notice under Section 8 indicates that the date of default is 12.01.2012 and paragraph 2 thereof indicates that the last payment was made on 30.05.2015. There is nothing in the notice that in between any other payment was made. It is therefore, the case of the respondent(s) that since payment was not made within three years from the date when it fell due, the payment would not extend the pe....