2020 (10) TMI 964 - NATIONAL COMPANY LAW TRIBUNAL , MUMBAI BENCH
P.H. COMBINES (A PROPRIETORSHIP CONCERN REPRESENTED BY ITS PROPRIETOR, MR PRAVINKUMAR SURESHCHANDRA BHOOT) VERSUS MDA AGROCOT PRIVATE LIMITED
Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - claim of Financial Creditor - time limitation - amount in question has been claimed in a civil suit before the Civil Judge (Senior Division), Amravati, by the Financial Creditor, which dismissed the application of the Financial Creditor for attachment before judgment, the appeal against the order has also been dismissed by the Hon’ble Bombay High Court - suppression of facts by Financial Creditor or not.
Time Limitation - HELD THAT:- The date of default mentioned in the application to be 21.09.2013. Also, the Financial Creditor has relied heavily on the acknowledgements in the balance sheets for the Financial Years 31.03.2013, 31.03.2014, 31.03.2015, 31.03.2016, 31.03.2017 and 31.03.2018, which have been attached to the petition at pp.133-219, to contend that the application filed under section 7 of the Code to be within the period of limitation.
The present application filed under section 7 of the Code fails the test of limitation in so far as the Code is concerned - Application dismissed.
No.- CP (IB) No.4276/MB.II/2018
Dated.- October 16, 2020
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