https://www.taxtmi.com/caselaws?id=357752 Repeated written acknowledgements of debt, including correspondence, balance confirmations, part payments, and one-time settlement proposals, were treated as sufficient to attract section 18 of the Limitation Act, 1963 and to start a fresh limitation period. On that basis, the section 7 insolvency application was not time-barred. The Tribunal also noted sanctioned loan facilities, executed security documents, admitted liability, and default in repayment as establishing financial debt and default. With debt and default shown and an interim resolution professional named, the petition was admitted, corporate insolvency resolution process was initiated, and moratorium consequences followed. en-us Wed, 14 Feb 2018 00:00:00 +0530 Thu, 29 Mar 2018 07:31:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357752 Repeated written acknowledgements of debt, including correspondence, balance confirmations, part payments, and one-time settlement proposals, were treated as sufficient to attract section 18 of the Limitation Act, 1963 and to start a fresh limitation period. On that basis, the section 7 insolvency application was not time-barred. The Tribunal also noted sanctioned loan facilities, executed security documents, admitted liability, and default in repayment as establishing financial debt and default. With debt and default shown and an interim resolution professional named, the petition was admitted, corporate insolvency resolution process was initiated, and moratorium consequences followed. Case-Laws Insolvency and Bankruptcy Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357752