Date of default can only be calculated when the invoice becomes due and payable and part payment made after the expiry of original period of three years from the date of last invoice cannot be considered an acknowledgment for extension of limitation period – M/s. SSP Pvt. Ltd. Vs. M/s. Govind Jee Dairy Milk Pvt. Ltd. – NCLT New Delhi Bench Court-V

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Company’s authorized signatory of cheque is not drawer in terms of Sec. 143A of the Negotiable Instruments Act, 1881 and cannot be directed to pay interim compensation u/s 143A & A deposit of a minimum sum of 20% of the fine or compensation is not necessary in an appeal u/s 148 filed by persons other than “drawer”, however, power to direct such deposit is available u/s 389 of CrPC – Lyka Labs Ltd. & Anr. Vs. The State of Maharashtra & Anr. – Bombay High Court

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On account of failure of assignee to file application to continue the proceeding, the application could not have been dismissed, the original Financial Creditor could have continued the proceeding for the benefit of assignee – Surender Singh Vs. Yes Bank Ltd. & Anr. – NCLAT New Delhi

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Merely because the petitioner is a bonafide auction purchaser who had purchased assets of Corporate Debtor through auction/bidding so conducted by orders of NCLT, will not absolve it from paying arrears of lease rental and interest thereon – Palika Towns LLP Vs. State of UP and 2 others – Allahabad High Court

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