Operational Creditor's Application Under IBC Not Barred by Limitation.

The National Company Law Appellate Tribunal (NCLAT) dismissed the Corporate Debtor's objections, affirming that the Operational Creditor's application under Section 9 of the Insolvency and Bankruptcy Code (IBC) was not barred by limitation. The tribunal noted that the last payment was made on August 26, 2019, within the three-year limitation period, and the Corporate Debtor had acknowledged the debt in writing in response to the demand notice. These factors satisfied the conditions under Section 19 of the Limitation Act, granting an extension of the limitation period, thereby validating the application. .....

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