Filing of an application u/s. 7 of IBC after 9 years of cause of action is barred by limitation: NCLAT Delhi

Atul Nathalal Patel Vs Manish Pardasani (NCLAT Delhi) NCLAT Delhi held that the cause of action for filing the under section 7 of the Insolvency and Bankruptcy Code arose on 16.12.2010, whereas, filing of an application in the year 2019 is hopelessly barred by time. Facts- This Appeal has been filed challenging the Order dated 25.07.2023 passed by the Learned Adjudicating Authority (National Company Law Tribunal, Mumbai Bench – IV) admitting a Section 7 Application filed by the Respondents No. 1 to 3 herein. The Appellant, Suspended Director of the Corporate Debtor, Atul Projects India Priva...