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TMI Blog2019 (10) TMI 1367X X X X Extracts X X X X X X X X Extracts X X X X ..... 5.2015 upon the Corporate Debtor, hence this petition is hit by Law of Limitation. It is beneficial to refer the judgement of the Hon'ble Supreme Court in the case of Vashdeo R. Bhojwani Vs. Abhyudaya Co-operative Bank Ltd. and Ors. [ 2019 (9) TMI 711 - SUPREME COURT ] where it was held that The right to sue , therefore, accrues when a default occurs. If the default has occurred over three years prior to the date of filing of the application, the application would be barred Under Article 137 of the Limitation Act, save and except in those cases where, in the facts of the case, Section 5 of the Limitation Act may be applied to condone the delay in filing such application. The ratio of the judgement is applied to the facts of the case on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Petitioner: Sr. No. Invoice No. Date of Invoice Invoice Amount (in ` ) 1. 142252 17.02.2015 2,29,606 2. 142437 14.03.2015 1,14,886 3. 142466 19.03.2015 2,29,891 4. 0086 13.04.2015 2,12,208 5. 0218 04.05.2015 2,29,891 6. 0378 27.05.2015 2,29,891 TOTAL 12,46,373 3. The Petitioner sent reminder email dated 23.03.2016, letter dated 15.12.2016 and email dated 03.05.2017 to the Corporate Debtor for demanding the outstanding debt amount, but the Corporate Debtor failed to pay any amount. On account of non-payment of the due, the Petitioner issued Demand Notice dated 12.05.2018 in Form 3 Form 4 under Section 8 of the I B Code, 2016 to the Corporate Debtor demanding payment of ₹ 12,46,373/-. The Corporate Debtor by its reply dated 08.06.201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 3, it was held as below: Having heard learned Counsel for both parties, we are of the view that this is a case covered by our recent judgment in B.K. Educational Services Private Limited v. Parag Gupta and Associates, 2018 (14) Scale 482, para 27 of which reads as follows: 27. It is thus clear that since the Limitation Act is applicable to applications filed Under Sections 7 and 9 of the Code from the inception of the Code, Article 137 of the Limitation Act gets attracted. The right to sue , therefore, accrues when a default occurs. If the default has occurred over three years prior to the date of filing of the application, the application would be barred Under Article 137 of the Limitation Act, save and except in those cases where, in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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