https://www.taxtmi.com/caselaws?id=104125 The court dismissed the appeal seeking admission of a company petition for winding up, emphasizing that the mere existence of a civil dispute does not automatically warrant such admission. The court clarified that the balance sheet entry of a debt does not constitute acknowledgment under the Indian Limitation Act, requiring a conscious act to extend the limitation period. The decision highlighted the importance of resolving liabilities through civil proceedings and the insufficiency of balance sheet entries alone to trigger winding-up petitions. en-us Wed, 03 Mar 1999 00:00:00 +0530 Thu, 02 Jul 2015 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104125 The court dismissed the appeal seeking admission of a company petition for winding up, emphasizing that the mere existence of a civil dispute does not automatically warrant such admission. The court clarified that the balance sheet entry of a debt does not constitute acknowledgment under the Indian Limitation Act, requiring a conscious act to extend the limitation period. The decision highlighted the importance of resolving liabilities through civil proceedings and the insufficiency of balance sheet entries alone to trigger winding-up petitions. Case-Laws Companies Law Wed, 03 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104125