https://www.taxtmi.com/caselaws?id=284839 Balance sheet and profit and loss account entries can amount to an admission of liability for recovery proceedings under Rule 12(5) of the Debts Recovery Tribunal (Procedure) Rules, 1993 when supported by signed financial statements and no satisfactory explanation is shown. The expression "admission" is not confined to pleadings or statements made before the Tribunal; it extends to documentary admissions in pre-existing records, consistent with the Evidence Act and the scheme of speedy debt recovery. The limitation objection was treated as unsustainable on the material before the court, and the challenge failed. en-us Thu, 29 Mar 2007 00:00:00 +0530 Thu, 12 Dec 2019 17:15:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284839 Balance sheet and profit and loss account entries can amount to an admission of liability for recovery proceedings under Rule 12(5) of the Debts Recovery Tribunal (Procedure) Rules, 1993 when supported by signed financial statements and no satisfactory explanation is shown. The expression "admission" is not confined to pleadings or statements made before the Tribunal; it extends to documentary admissions in pre-existing records, consistent with the Evidence Act and the scheme of speedy debt recovery. The limitation objection was treated as unsustainable on the material before the court, and the challenge failed. Case-Laws Indian Laws Thu, 29 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284839