https://www.taxtmi.com/caselaws?id=410966 An acknowledgment of liability and balance confirmation dated 15.07.2019 extended limitation under Section 18 of the Limitation Act, 1963, so the Section 7 insolvency application filed on 28.07.2020 was not time-barred. The ex parte admission order was also upheld because notice had been issued, the corporate debtor did not file a reply or vakalatnama over two hearings, and no failure of service was shown. A COVID-related explanation for one director's absence was insufficient where the company had more than one director. The admission of the insolvency application was left undisturbed. en-us Wed, 11 Aug 2021 00:00:00 +0530 Fri, 13 Aug 2021 09:07:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410966 An acknowledgment of liability and balance confirmation dated 15.07.2019 extended limitation under Section 18 of the Limitation Act, 1963, so the Section 7 insolvency application filed on 28.07.2020 was not time-barred. The ex parte admission order was also upheld because notice had been issued, the corporate debtor did not file a reply or vakalatnama over two hearings, and no failure of service was shown. A COVID-related explanation for one director's absence was insufficient where the company had more than one director. The admission of the insolvency application was left undisturbed. Case-Laws Insolvency and Bankruptcy Wed, 11 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410966