As per the case facts, a bank had sanctioned credit facilities to borrower entities with a corporate debtor as guarantor. Upon default, the loans became non-performing. After various recovery attempts ... and a compromise where the corporate debtor became liable, the bank filed an application under the IBC. The National Company Law Appellate Tribunal (NCLAT) deemed this application time-barred and ruled that a Recovery Certificate did not trigger the right to sue. This decision was appealed to the Supreme Court. The question arose whether the application under the Insolvency and Bankruptcy Code was time-barred and if the issuance of a Recovery Certificate initiated the limitation period for the right to sue. Finally, the Supreme Court allowed the appeal, quashing the NCLAT's judgment. This indicates that the application under the IBC was considered within the limitation period, and that the NCLAT had erred in its finding regarding the time-bar and the effect of the Recovery Certificate.