9911796707
TMI Blog2024 (12) TMI 1199X X X X Extracts X X X X X X X X Extracts X X X X ..... continue to be 06.09.2022 and not 22.08.2024 as contended by the Appellant. The determination of period of limitation as it has been sought to be impressed upon by the Counsel for Appellant, in which he is attempting to compute the end date of the limitation period by adding 905 days from 01.03.2022 on the premises that 905 days is the actual balance period of limitation remaining is absolutely a misconceived notion because the actual balance period of limitation has to be calculated from 01.03.2022 - as the Company Petition was filed only on 17.04.2023, it is clear that it has been filed much beyond 06.09.2022, the end date of limitation period and accordingly, the rejection of the Company Petition on the ground that has been observed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been preferred beyond the prescribed period contemplated under law for initiation of the CIRP proceedings. 2. Brief facts, as it engages consideration are that, the Appellant on 17.04.2023, had filed an application under Section 9 of I B Code, 2016 thereby praying for drawing a CIRP proceedings as, against the Respondent Corporate Debtor, on the ground that the Corporate Debtor has committed a default of non-payment of total outstanding amount of Rs. 2,43,48,930/-. It was contended and rather admitted too, that the default was committed as back as on 07.09.2019, as would be apparent from the date of default as referred to in Part IV of Form 5 as issued by the Appellant to the Respondent Corporate Debtor. 3. There are various factual facets, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... will extend to 22.08.2024. 5. The operative portion of the aforesaid Judgment of the Hon ble Apex Court, as contained Para 5(I), (II) (III) are extracted hereunder: - I. The order dated 23.03.2020 is restored and in continuation of the subsequent orders dated 08.03.2021, 27.04.2021 and 23.09.2021, it is directed that the period from 15.03.2020 till 28.02.2022 shall stand excluded for the purposes of limitation as may be prescribed under any general or special laws in respect of all judicial or quasi-judicial proceedings. II. Consequently, the balance period of limitation remaining as on 03.10.2021, if any, shall become available with effect from 01.03.2022. III. In cases where the limitation would have expired during the period between 15.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lutely a misconceived notion because the actual balance period of limitation has to be calculated from 01.03.2022. Thus, the plea of the Appellant runs contrary to the observation made by the Hon ble Apex Court, as contained in Para 5 (III) of the Hon ble Apex Court Judgment. Therefore, as the Company Petition was filed only on 17.04.2023, it is clear that it has been filed much beyond 06.09.2022, the end date of limitation period and accordingly, the rejection of the Company Petition on the ground that has been observed by the Learned adjudicating authority does not suffer from any error. 9. As such, the same deserves to be dismissed. The dismissal of the Company Appeal is also desirable for the reason being that, the proceedings which are ..... X X X X Extracts X X X X X X X X Extracts X X X X
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