https://www.taxtmi.com/caselaws?id=407564 A Section 7 insolvency application was held to be within limitation because written balance and security confirmation letters, together with a later part payment, constituted acknowledgment of liability before expiry of the limitation period. The acknowledgment triggered a fresh period under Section 18 of the Limitation Act, so the limitation objection failed. On that basis, the debt and default were treated as established and the insolvency admission order was sustained. en-us Wed, 12 May 2021 00:00:00 +0530 Fri, 14 May 2021 08:33:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407564 A Section 7 insolvency application was held to be within limitation because written balance and security confirmation letters, together with a later part payment, constituted acknowledgment of liability before expiry of the limitation period. The acknowledgment triggered a fresh period under Section 18 of the Limitation Act, so the limitation objection failed. On that basis, the debt and default were treated as established and the insolvency admission order was sustained. Case-Laws Insolvency and Bankruptcy Wed, 12 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407564