https://www.taxtmi.com/caselaws?id=99442 Entries in a balance-sheet and directors' report were examined to see whether they constituted an acknowledgment of liability sufficient to defeat a limitation defence in a winding-up petition. The Court held that the balance-sheet entry showing the amount under secured loans, together with Schedule 'A' describing the liability as partly secured and unconfirmed, did not by itself conclusively establish acknowledgment. The directors' report also stated that the relevant liabilities, except specified debts, were barred by limitation and were not confirmed by the directors. On these materials, limitation remained a bona fide dispute, and the alleged acknowledgment was not enough to override it. en-us Tue, 25 Nov 1975 00:00:00 +0530 Fri, 27 Jan 2012 13:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99442 Entries in a balance-sheet and directors' report were examined to see whether they constituted an acknowledgment of liability sufficient to defeat a limitation defence in a winding-up petition. The Court held that the balance-sheet entry showing the amount under secured loans, together with Schedule 'A' describing the liability as partly secured and unconfirmed, did not by itself conclusively establish acknowledgment. The directors' report also stated that the relevant liabilities, except specified debts, were barred by limitation and were not confirmed by the directors. On these materials, limitation remained a bona fide dispute, and the alleged acknowledgment was not enough to override it. Case-Laws Companies Law Tue, 25 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99442