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TMI Blog2023 (3) TMI 242X X X X Extracts X X X X X X X X Extracts X X X X ..... mitation in view of Date of Default as per Part-IV date as well as per IU Records. The Financial Creditor has already filed Financial Statement till 31.03.2016. Since this financial statement has been signed on 13.12.2016, it does not save the case of the Financial Creditor. As the limitation period expires before 24.03.2020, the enlargement of period as granted by Hon ble Supreme Court on account of Covid-19 is not applicable in the Present Petition filed by the Financial Creditor. In view of this the Present Petition filed by the Financial Creditor for imitating CIRP against the Corporate Debtor is barred by law of limitation and hence is liable to be dismissed. - CP (IB) No.312/MB-IV/2021 - - - Dated:- 24-2-2023 - Mr. Prabhat K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he this, the Financial Creditor and the Corporate Debtor entered into the Laon Agreement on 01.12.2015. However, the Corporate Debtor failed to repay the dues when it became due. 5. The Financial Creditor submitted that in view of the Hon ble Supreme Court decision dated 08.03.2021 Suo Motu Petition (Civil) No. 3 of 2020, the Present Petition is within the period of Limitation. The Financial Creditor has filed the Ledger Statement of the Corporate Debtor. 6. The Financial Creditor has filed the NeSL Report dated 26.03.2021 which shows the total outstanding amount of Rs.16,42,09,634/-. The Financial Creditor has also filed the Statement of Accounts of the Corporate Debtor as on 31.03.2016 which has been signed on 13.12.2016 in support ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation is within limitation. It is settled law that limitation runs from the Date of Default and not from the Date of declaration of account as NPA. Hence, the limitation has to be determined with reference to Date of Default only. 11. On perusal of the records, it is noticed that this Application has been filed on 30.03.2021 and the Date of NPA and Date of Default is stated to be 31.03.2017 and 02.12.2016 in the Part-IV of the Petition. Further, the Date of Default as per record of default with Information Utility is stated to be 01.03.2017. In view of this, the present Application having been filed on 30.03.2021 is barred by limitation in view of Date of Default as per Part-IV date as well as per IU Records. The Financial Creditor has a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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