Limitation Act, 1963: s.23 and Article 137 – Applicability of the Limitation Act – To the application u/s.7 of Insolvency and Bankruptcy Code, 2016 – It was held in the impugned order that as the default continued, no period of limitation would be attracted – Appeal to Supreme Court – Held: Limitation Act is applicable to the applications filed u/s.7 – Petition u/s. 7 filed after 3 years from the date of default, would be barred u/Art. 137 of the Limitation Act – The limitation would not be saved by virtue of s.23 of the Limitation Act – Appeal allowed – Insolvency and Bankruptcy Code, 2016 – s.7.