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Petition seeking to initiate CIRP beyond three year limitation period was barred by limitation had to be rejected

March 16, 2020[2020] 114 664 (NCLT - Mum.)

IBC : Where operational creditor filed petition seeking to initiate corporate insolvency resolution process against corporate debtor on ground that corporate debtor failed to make payment along with interest for supply of goods and date of default as per invoices raised was 13-8-2014, three-year limitation for filing present proceeding ended on 12-8-2017, hence, petition filed on 15-5-2018 was barred by limitation and had to be dismissed

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