https://www.taxtmi.com/caselaws?id=291925 For a section 7 application under the Insolvency and Bankruptcy Code, article 137 of the Limitation Act, 1963 applies. The right to apply was treated as accruing from 1 December 2016, when the Code came into force, and repeated letters from the corporate debtor seeking a one-time settlement were treated as acknowledgments of liability. On that basis, the secured debt and continuing acknowledgments supported a continuing cause of action, so the section 7 claim was found to be within limitation and maintainable, and the limitation objection was rejected. en-us Tue, 06 Aug 2019 00:00:00 +0530 Mon, 30 Nov 2020 19:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291925 For a section 7 application under the Insolvency and Bankruptcy Code, article 137 of the Limitation Act, 1963 applies. The right to apply was treated as accruing from 1 December 2016, when the Code came into force, and repeated letters from the corporate debtor seeking a one-time settlement were treated as acknowledgments of liability. On that basis, the secured debt and continuing acknowledgments supported a continuing cause of action, so the section 7 claim was found to be within limitation and maintainable, and the limitation objection was rejected. Case-Laws Insolvency and Bankruptcy Tue, 06 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291925