ORDER

1 The appeal under Section 62 of the Insolvency and Bankruptcy Code 20161 arises from an order dated 6 December 2023 of the National Company Law Appellate Tribunal2.

2 The application filed by the first respondent under Section 7 of IBC was dismissed by the National Company Law Tribunal3 on 25 March 2022 on the ground that the debt was barred by limitation. However, while dismissing the petition on the ground of limitation, the NCLT also made the following observations on merits in paragraph 29 of its decision:

“29.

It is clear to the Bench that there is a ‘debt’ in terms of section 3(11) and there is a ‘default’ in terms of Section 3(12) of the IBC. However, keeping in view that the date of NPA in respect of all the four loans are between 26.06.2011 to 31.07.2011 and the Petition has been filed only on 30th August, 2019, the limitation issue is very pertinent in the matter. The Bench has to take a call whether the debt is time-barred or not, in terms of provisions of the Limitation Act, 1963. The Bench before proceeding further would like to mention certain dates and events subsequent to the invocation of guarantee which will help in deciding the matt