2023 (8) TMI 1457 - SCH - Insolvency and Bankruptcy

Maintainability of application under Section 7 of IBC - application barred by limitation which is prescribed under Article 137 of the Limitation Act, 1961 or not - Appellant made various payments up to February, 2017 but also on 07.03.2019 sent a proposal for one time settlement of term loan which tantamounts to acknowledgement - it was held by NCLAT that 'There is hardly any substance in the present appeal for the purpose of interfering in the order of admission on the ground of limitation.' HELD THAT - There are no good ground and reason to interfere with the impugned judgment and hence, the present appeal is dismissed.

Summary

The Supreme Court dismissed the appeal as they found no good ground to interfere with the impugned judgment. Any pending applications were disposed of. (Citation: 2023 (8) TMI 1457 - SC Order)