NCLAT holds that a mere running of the eye of the ingredients of Section 9 of the Code makes it lucidly clear that the date of initiation of CIRP shall be on the date on which an application is made. To put it precisely, the date of default is not to come into operative play and the same ought not to be taken into account for anything but computing the period of limitation. In this connection, it is to be relevantly pointed out that a litigant has no vested right to choose a particular Forum, although he has an actionable right. It cannot be gain said that a change in Law is a procedural one and a Litigant is to adhere to the letter and spirit of the Law, without any deviation whatsoever, in the considered of this Tribunal.
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