https://www.taxtmi.com/caselaws?id=408712 An insolvency application under Section 7 of the Insolvency and Bankruptcy Code was found to be within limitation because the corporate debtor's one-time settlement proposals were treated as acknowledgments of debt under Section 18 of the Limitation Act, 1963. The date of default was taken as 27.12.2014, and the proposals dated 09.11.2015 and 29.03.2016 were held to extend the limitation period. The argument that the default date shifted after the settlement proposals was rejected, and the application filed on 14.02.2019 was treated as time-barred objection failing, making the insolvency filing maintainable. en-us Mon, 14 Jun 2021 00:00:00 +0530 Sat, 19 Jun 2021 10:18:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408712 An insolvency application under Section 7 of the Insolvency and Bankruptcy Code was found to be within limitation because the corporate debtor's one-time settlement proposals were treated as acknowledgments of debt under Section 18 of the Limitation Act, 1963. The date of default was taken as 27.12.2014, and the proposals dated 09.11.2015 and 29.03.2016 were held to extend the limitation period. The argument that the default date shifted after the settlement proposals was rejected, and the application filed on 14.02.2019 was treated as time-barred objection failing, making the insolvency filing maintainable. Case-Laws Insolvency and Bankruptcy Mon, 14 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408712