9911796707
TMI Blog2022 (2) TMI 743X X X X Extracts X X X X X X X X Extracts X X X X ..... does not commend us. The mere fact that the Corporate Debtor has asked to submit 10% Bank Guarantee shall not in any manner arrest running of limitation which began when amount became due and payable and not paid - In the present case, according to own documents filed by the Appellant, that amount became due on 10.04.2014, which is mentioned in the Column 1 Form IV of the Application which was filed by the Appellant itself. There are no materials on the record, as has been rightly observed by the Adjudicating Authority, for granting any extension of limitation. The submission of the learned counsel for the Appellant is that there being no application for condonation of delay under Section 5, the court has powers to condone delay in appro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty took the view that unpaid invoices claimed is on 10.04.2014 and last date of payment is 31.03.2014 from which limitation expired on 30.03.2017 and there are no events has been placed to claim any further extension of limitation. The learned Adjudicating Authority rejected the application as barred by time. 3. Learned counsel for the Appellant, Mr. Varun Kumar challenging the order of the Adjudicating Authority contends that the present was the case which ought not to have been dismissed on the ground of limitation. He submits that a legal notice dated 25.04.2014 was sent to the Corporate Debtor for outstanding dues for sale of solar batteries where it was stated that payment may be made within seven days from the date of legal notice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due date 1. 13002001 27.01.2014 2. 13002002 27.01.2014 3. 13002024 29.01.2014 4. 13002043 30.01.2014 5. 13000115 28.02.2014 6. 13000657 10.04.2014 7. Payment due date of the last invoice is 10.04.2014 and admittedly no payment has been made after 10.04.2014. The right to sue accrued to the Appellant from the last payment made i.e. 31.03.2014. At best the limitation will be th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... furnish a Bank Guarantee of 10% of the total sales as orally committed to my client and do not pull my client in any sort of frivolous litigation. If, in case, your client do so then it is needless to mention that the same will be defended upon the cost of your client. 9. The mere fact that the Corporate Debtor has asked to submit 10% Bank Guarantee shall not in any manner arrest running of limitation which began when amount became due and payable and not paid. 10. In the present case, according to own documents filed by the Appellant, that amount became due on 10.04.2014, which is mentioned in the Column 1 Form IV of the Application which was filed by the Appellant itself. There are no materials on the record, as has been rightly o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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