https://www.taxtmi.com/caselaws?id=293969 A written acknowledgment of liability made before expiry of limitation, together with a settlement proposal and part payments, extended limitation under Section 18 of the Limitation Act, so the insolvency filing was not time-barred. However, the application was materially defective because the prescribed declaration and completeness requirements were not properly satisfied, including the disclosure relating to the proposed resolution professional, and such defects required an opportunity for rectification before admission. The admission was also unsustainable because it was passed during the subsistence of a High Court status quo order. The admission order was set aside and the matter remitted for fresh consideration. en-us Thu, 18 Jun 2020 00:00:00 +0530 Fri, 12 Mar 2021 08:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293969 A written acknowledgment of liability made before expiry of limitation, together with a settlement proposal and part payments, extended limitation under Section 18 of the Limitation Act, so the insolvency filing was not time-barred. However, the application was materially defective because the prescribed declaration and completeness requirements were not properly satisfied, including the disclosure relating to the proposed resolution professional, and such defects required an opportunity for rectification before admission. The admission was also unsustainable because it was passed during the subsistence of a High Court status quo order. The admission order was set aside and the matter remitted for fresh consideration. Case-Laws Insolvency and Bankruptcy Thu, 18 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293969