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
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
argued that under Section 19 of the Limitation Act, when
such repayments were made, fresh limitation would start and thus
the Application under Section ... Application
under Section 7 of IBC was filed in the present matter, Section
238A of IBC extending provisions of the Limitation Act was inserted
IBC by the Appellant is barred by
limitation since, the Application under Section 7 IBC was filed on
05.02.2019 and three-year period expires ... file the Application within a period of limitation as prescribed
under Section 238A of IBC. The Adjudicating Authority and this
Tribunal are bound
limitation period
of three years as applicable to the IBC
under Article 137 of the Limitation Act for
the reasons that the debt as shown ... Limitation Act; and even otherwise,
Section 18 of the Limitation Act cannot
revive the "default" relevant for IBC and
could only revive limitation
within
limitation period in view of Article 137 of Limitation Act, 1963 which is
applicable to Application under Sections 7 & 9 of IBC ... IBC is not a suit and as held by Hon'ble
Supreme Court, Section 7 is an Application under the IBC which falls
under
extended in the manner provided in the Limitation
Act , has been held. Proceedings under the IBC are not execution proceedings
either for the decree which ... bound under
Section 3 of the Limitation Act, 1963 to suo motu consider if or not the
Application under Section 7 of IBC was within
purpose of Application under Section 7 of IBC, period of limitation is
to be looked into from date of default which is when Account became ... rely on above
reasons to hold the Application under Section 7 of IBC to be within limitation.
The Appeal is dismissed. No orders
petition under Section 7 of the
IBC has to be admitted, even if the claim is ex facie barred by
limitation.
34. On the other ... refused to admit the application under
Section 7 of the IBC, holding the same to be barred by limitation.
The Appellate Tribunal has erred
sent a demand notice dated 13.05.2019 under
Section 8 of the Insolvency and Bankruptcy Code (in short
IBC) claiming an amount ... regard to applicability of
the provisions of the Limitation Act, 1963 to the proceedings
under IBC.
iv) It is claimed that despite issue of reply
