The mere fact that Financial Statement and OTS related documents were not referred to in the Section 7 application cannot disentitle Financial Creditor to bring on record the said documents when plea was raised in the Reply by Corporate Debtor that application is barred by time – Krystal Stone Exports Ltd. Vs. Stressed Assets Stabilization Fund – NCLAT New Delhi
Hon’ble NCLAT held that when the issue of limitation is raised, it is duty of the Court to decide the question of limitation even if no defence is raised and for deciding the question of limitation party are at liberty to file relevant documents. When the Corporate Debtor questioned the application as barred by time, it was open for the Financial Creditor to bring on record the relevant documents claiming acknowledgment of the Corporate Debtor. Appeal is dismissed.