Non-maintainability of application u/s 9 of IBC as being time-barred

Vasavi Power Services Pvt. Ltd Vs Promac Engineering Industries Ltd. (NCLAT Chennai)

Conclusion: Application under section 9 of IBC against the corporate debtor was dismissed for being exceeded the limitation period prescribed by law.

Held: Assessee-company had challenged an order passed by the National Company Law Tribunal ( NCLT ) which dismissed its Section 9 application under the IBC, against the corporate debtor for being time-barred. NCLT held that the application exceeded the limitation period prescribed by law. Assessee had filed the

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