An FIR (First Information Report) in relation to the offence under Section 406 Indian Penal Code is lodged on 1^st January 2010 The Police conducts investigation and submits a negative Final Report in the Court concerned on 2^nd February 2012.The Court takes cognizance of the above offence on 3^rd March 2013. In these circumstances, which of the following is correct:

A. The proceedings are barred by limitation

B. The proceedings are not barred by limitation as the offence under Section 406 Indian Penal Code is a continuing offence

C. The proceedings are not barred by limitation as the FIR (First Information Report) was lodged promptly

D. None of the above

Answer: Option D