under IBC, it could
only be taken that it should be governed by the provisions
under the IBC in regard to the period of limitation ... application under Section 9 , IBC, despite the
combined reading of Section 238A, IBC and the provisions
under the Limitation Act what is legally available
date of filing the Application under Section 7 of IBC the
Application would be barred under Limitation Act, 1963 , save and except in
the cases ... Applications under Section 7 and 9 of IBC fall under Article 137
of the Limitation Act, 1963 .
23.7 When we go to Sections, Section
payable, but
the same was barred by limitation as applicable under IBC. Proceeding
further, the learned senior counsel has referred to the decision rendered ... Limitation Act; and even otherwise, Section 18 of the Limitation Act
cannot revive the “default” relevant for IBC and could only revive limitation
with respect
other provision of the Limitation Act to proceedings under
the IBC in NCLT/Nclat. All the provisions of the Limitation Act are
applicable to proceedings ... There is no specific period of limitation prescribed in the
Limitation Act, 1963 , for an application under the IBC, before the
Adjudicating Authority (NCLT
within Limitation. It is
argued that under Article 137 of the Limitation Act, 1963 for Application
under Section 7 of IBC the period of Limitation ... difficulty that the Applications under Section 7 and 9 of IBC
fall under Article 137 of the Limitation Act, 1963 .
23.7 When
application under Section 7 of the IBC, the application would be barred
6
under Article 137 of the Limitation Act . At the highest, limitation started ... under
Section 7 of the IBC.
36. At the cost of repetition, it is reiterated that in its application
under Section 7 of the IBC
open to
contend that the limitation for filing application under
Section 7 IBC would be limited to Article 137 of the
Limitation Act and extension ... hence, the applicant
filed by the appellant under Section 7 of the IBC was within limitation. Reliance has
also been placed on the letter
which is beyond
the threshold of Rs. 1/- Lakh prescribed under Section 4 of 'IBC' for
triggering CIRP Process.
13. Whether the 'Operational ... within the
limitation period.
15. The law with respect to 'date of default' and 'limitation' under 'IBC' has
been
Supreme Court has held
that under the Article 137 of the Limitation Act , the Application under IBC is
required to be filed within three years ... difficulty that the Applications under
Section 7 and 9 of IBC fall under Article 137 of the Limitation Act,
1963 .
23.7 When
open to contend that the limitation for
filing Application under Section 7 IBC would be
limited to Article 137 of the Limitation Act and
extension ... Limitation Act are also applicable to proceedings
under the IBC.
139. Section 18 of the Limitation Act cannot also be
construed with pedantic rigidity
