https://www.taxtmi.com/caselaws?id=406186 The Appellate Tribunal dismissed the appeal, affirming the Adjudicating Authority's decision to admit the application under Section 7 of the IBC. The Tribunal concluded that the debt was not time-barred, considering the Corporate Debtor's acknowledgments of debt, which extended the limitation period under Section 18 of the Limitation Act. The Tribunal emphasized the applicability of Sections 5, 14, and 18 of the Limitation Act to IBC proceedings, as per Section 238A of the IBC, thereby validating the application's admissibility. The appeal lacked merit, reinforcing the significance of debt acknowledgments in extending limitation periods. en-us Mon, 05 Apr 2021 00:00:00 +0530 Mon, 28 Oct 2024 15:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406186 The Appellate Tribunal dismissed the appeal, affirming the Adjudicating Authority's decision to admit the application under Section 7 of the IBC. The Tribunal concluded that the debt was not time-barred, considering the Corporate Debtor's acknowledgments of debt, which extended the limitation period under Section 18 of the Limitation Act. The Tribunal emphasized the applicability of Sections 5, 14, and 18 of the Limitation Act to IBC proceedings, as per Section 238A of the IBC, thereby validating the application's admissibility. The appeal lacked merit, reinforcing the significance of debt acknowledgments in extending limitation periods. Case-Laws IBC Mon, 05 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406186