Insolvency and Bankruptcy Code, 2016, Section 7 -- Application u/s 7 of the Act - Limitation - How a bank classifies its debt for managing its balance sheet is not a factor determining starting point of limitation more so, when debt is restructured and is acknowledged in fresh working capital consortium agreements entered for availing credit facilities - What is relevant..........
Limitation Act, 1963, Section 18 -- Acknowledgment of debt - Acknowledgment of debt must be made within subsisting period of limitation...........
Civil Procedure Code, 1908, Order 7, Rule 11, Limitation Act, 1963, Section 18, Article 21 -- Rejection of plaint - Barred by limitation - Recovery suit - Acknowledgment of debt - Loan was advanced on 13.11.2015 and limitation period of three years prescribed u/art 21 of Limitation Act expired much prior to alleged acknowledgement dated 30.7.2020 - Acknowledgment of debt..........
Limitation Act, 1963, Section 5 -- Condonation of delay - Cause shown not an explanation but a lame excuse - No case for exercise of discretion has been set up...........
Limitation Act, 1963, Section 5 -- Condonation of delay - Cannot be claimed a a matter of right - It is entirely discretion of Court whether or not to condone delay...........
Limitation Act, 1963, Section 5 -- Condonation of delay - A lenient and justice oriented view is required to be adopted...........
Civil Procedure Code, 1908, Order 9, Rule 8, 9, Limitation Act, 1963, Section 5 -- Restoration of suit dismissed in default - Condonation of delay - Plaintiff is not disclosing his source of information and date of knowledge about impugned order from whom he found that suit is dismissed for default - Therefore, Court can draw an inference that plaintiffs had knowledge..........
Civil Procedure Code, 1908, Order 7, Rule 11 -- Rejection of plaint - If upon a meaningful reading of plaint, Court reaches to a conclusion that drafting of plaint is such as to create an illusion of cause of action, whereas suit is barred by limitation, plaint can be rejected U.O.7.R.11 CPC...........
Negotiable Instruments Act, 1881, Section 138(b), 142 -- Dishonour of cheque - Computation of period of limitation for filing complaint - Date of issuance of notice as well as date of service of notice or deemed service of notice to be discernible from postal receipt and acknowledgement card and in its absence any other document or documents issued by concerned postal..........
Limitation Act, 1963, Section 5 -- Condonation of delay - While considering an application for condonation of delay, Court is required to take into account nature of lis and conduct of parties...........
