https://www.taxtmi.com/caselaws?id=398463 Written balance confirmations and revival letters signed by the corporate debtor before expiry of limitation constituted valid acknowledgment of liability under section 18 of the Limitation Act, 1963. The NCLAT held that these acknowledgments triggered a fresh limitation period, so the section 7 application under the Insolvency and Bankruptcy Code, 2016 was treated as filed within time despite being presented more than three years after the original default date. Decisions dealing only with a bare default date, without pleaded acknowledgment, were distinguished on facts, and the limitation objection failed. en-us Mon, 14 Sep 2020 00:00:00 +0530 Wed, 16 Sep 2020 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398463 Written balance confirmations and revival letters signed by the corporate debtor before expiry of limitation constituted valid acknowledgment of liability under section 18 of the Limitation Act, 1963. The NCLAT held that these acknowledgments triggered a fresh limitation period, so the section 7 application under the Insolvency and Bankruptcy Code, 2016 was treated as filed within time despite being presented more than three years after the original default date. Decisions dealing only with a bare default date, without pleaded acknowledgment, were distinguished on facts, and the limitation objection failed. Case-Laws Insolvency and Bankruptcy Mon, 14 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398463