New Bharat Refractories Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against Dhendai Tea and Industries Pvt. Ltd. The Adjudicating Authority, Kolkata Bench, dismissed the application, citing that it was barred by limitation. The loan became due and payable on March 31, 2015. The application under Section 7 was filed on October 10, 2018. The key fact is the time elapsed between the date the loan became due and the date the application was filed, which determined whether the application was within the limitation period.

New Bharat Refractories Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against Dhendai Tea and Industries Pvt. Ltd. The Adjudicating Authority, Kolkata Bench, dismissed the application, citing that it was barred by limitation. The loan became due and payable on March 31, 2015. The application under Section 7 was filed on October 10, 2018. The key fact is the time elapsed between the date the loan became due and the date the application was filed, which determined whether the application was within the limitation period.