Company Appeal (AT) (Insolvency) No. 507 of 2019
IN THE MATTER OF:
Mr. Devanathan Ranganathan …Appellant
IDBI Bank Limited & Anr. …Respondents
The ‘I&B Code’ having come into force since 1st December, 2016 and the application having been filed on 24th October, 2018, the application was held under Section 7 which is well within the time and is not barred by limitation. Further, as it was found that the default has occurred after notice issued on 13th November, 2015 and application having been filed on 24th October, 2018, it was held that the claim is also not barred by limitation.
The appeal was dismissed at no cost.
Click here to read full order-1467591215ce7b7673e8cf