NCLT Denies CIRP Application u/s 9 IBC; Finds Debt Time-Barred Since April 1, 2015.

Initiation of CIRP - NCLT rejected the application of appellant u/s 9 - Period of limitation - The Ld. Adjudicating Authority has taken note of the fact that the Demand Notice issued under Section 8 of the IBC on 15.03.2019 which was sent through Registered post on 19.03.2019. However, the same was returned with a postal remark “addressee moved”. - The Ld. Adjudicating Authority have giving finding that debt failed due on 01.04.2015 as admitted by the Petitioner, hence the Application filed under Section 9 of the IBC barred by limitation. - AT .....

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