https://www.taxtmi.com/caselaws?id=293928 A written acknowledgment of liability, including a genuine one-time settlement proposal and related negotiations, was treated as sufficient to extend limitation under section 18 of the Limitation Act, 1963, so the section 7 IBC petition was not time-barred. The Tribunal also accepted that debt and default were established on the facts and rejected the corporate debtor's challenge to admission. The application was therefore admitted, insolvency proceedings were commenced, and the statutory moratorium and appointment of an interim resolution professional followed. en-us Fri, 05 Jul 2019 00:00:00 +0530 Wed, 10 Mar 2021 08:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293928 A written acknowledgment of liability, including a genuine one-time settlement proposal and related negotiations, was treated as sufficient to extend limitation under section 18 of the Limitation Act, 1963, so the section 7 IBC petition was not time-barred. The Tribunal also accepted that debt and default were established on the facts and rejected the corporate debtor's challenge to admission. The application was therefore admitted, insolvency proceedings were commenced, and the statutory moratorium and appointment of an interim resolution professional followed. Case-Laws Insolvency and Bankruptcy Fri, 05 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293928