https://www.taxtmi.com/caselaws?id=386888 Repeated renewal of the debt, a revival letter, balance confirmation, and a last payment within the relevant period amounted to acknowledgment of liability, so the Section 7 insolvency application was within limitation. Assignment of the debt did not affect the corporate debtor's underlying liability, and the assignee's consideration for assignment was irrelevant to enforceability. Allegations that the claim was exaggerated could be examined during collation and verification in the resolution process and did not defeat admission. The admission order was sustained and the appeal was dismissed. en-us Tue, 07 May 2019 00:00:00 +0530 Fri, 11 Oct 2019 11:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386888 Repeated renewal of the debt, a revival letter, balance confirmation, and a last payment within the relevant period amounted to acknowledgment of liability, so the Section 7 insolvency application was within limitation. Assignment of the debt did not affect the corporate debtor's underlying liability, and the assignee's consideration for assignment was irrelevant to enforceability. Allegations that the claim was exaggerated could be examined during collation and verification in the resolution process and did not defeat admission. The admission order was sustained and the appeal was dismissed. Case-Laws Insolvency and Bankruptcy Tue, 07 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386888