https://www.taxtmi.com/caselaws?id=397594 Limitation for a Section 7 Insolvency and Bankruptcy Code application runs from the date of default under Article 137 of the Limitation Act, but a written acknowledgment of liability made before expiry of limitation renews the period under Section 18; on the facts, the debtor's letter of 18 March 2016 acknowledged the dues and kept the claim within time. A prior insolvency proceeding against another alleged guarantor did not, by itself, bar proceedings against the corporate debtor, and no sufficient basis was shown to make the later application untenable. The insolvency process was therefore left undisturbed. en-us Fri, 07 Feb 2020 00:00:00 +0530 Thu, 18 Mar 2021 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397594 Limitation for a Section 7 Insolvency and Bankruptcy Code application runs from the date of default under Article 137 of the Limitation Act, but a written acknowledgment of liability made before expiry of limitation renews the period under Section 18; on the facts, the debtor's letter of 18 March 2016 acknowledged the dues and kept the claim within time. A prior insolvency proceeding against another alleged guarantor did not, by itself, bar proceedings against the corporate debtor, and no sufficient basis was shown to make the later application untenable. The insolvency process was therefore left undisturbed. Case-Laws Insolvency and Bankruptcy Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397594