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TMI Blog2022 (2) TMI 1406X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 07.01.2021 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench-V by which Application filed by the Appellant under Section 7 of the 'I&B Code' has been rejected. The Appellant has filed an Application under Section 7 claiming dues of Rs. 87,38,000/- which was deposited by him towards cost of shops through Buyers' Agreement dated 24.02.2009. Copy of the Application filed under Section 7 has been brought on record at page 116 of the paper book. Part IV of the Application which gives the 'particulars of the financial debt' is to the following effect:- Part-IV PARTICULAR OF FINANCIAL DEBT 1. TOTAL AMOUNT OF DEBT GRANTED DATE(S) OF DISBURSEMENT Rs.87,38,000/- deposited towards the cost of the shops ackno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat he has right to take his remedy before RERA as well as under Section 7 of the Code. 7. We have considered the submissions of the Learned Counsel for the parties and perused the record. 8. Insofar as submission of the Counsel for the Appellant that he has right to avail all the remedies provided in law is concerned, we concur with the submission, a litigant can avail all the remedies provided in law, be it complaint filed under Real Estate Regulatory Authority or under IBC. We in the present case are concerned with the Application filed by the Appellant under Section 7 of the IBC. In Part-IV of the Application which we have already extracted above, the Appellant himself has shown the date of default as 24.10.2010. The limitation for fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n right to apply accrues, the same deserves to be rejected. 10. Learned Counsel for the Appellant lastly contended that he will have fresh period of limitation after the order dated 06.03.2019 passed by the UP RERA. The said submission needs no consideration since neither there was any foundation in the Application filed under Section 7 nor there was any pleading that fresh period of limitation shall start from 06.03.2019. Hence, we need not consider the said submission in the present Appeal. 11. As noted above, on the complaint filed by the Appellant, an order has been passed by the UP RERA on 06.03.2019 directing for recovery of amount of Rs. 87,38,000/- along with interest/. The Appellant has already filed Execution Application to exec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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