https://www.taxtmi.com/caselaws?id=299380 A debtor's written reply inviting discussion and settlement may amount to a promise to pay a time-barred debt under section 25(3) of the Indian Contract Act, preserving enforceability of the operational creditor's claim. The Tribunal also found no established pre-existing dispute and held that the section 9 IBC requirements were satisfied, so the insolvency application was admitted on the principal debt. The interest claim was rejected because no agreement to pay interest was shown. On that basis, moratorium and CIRP directions were issued. en-us Mon, 10 Feb 2020 00:00:00 +0530 Mon, 13 Dec 2021 08:34:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299380 A debtor's written reply inviting discussion and settlement may amount to a promise to pay a time-barred debt under section 25(3) of the Indian Contract Act, preserving enforceability of the operational creditor's claim. The Tribunal also found no established pre-existing dispute and held that the section 9 IBC requirements were satisfied, so the insolvency application was admitted on the principal debt. The interest claim was rejected because no agreement to pay interest was shown. On that basis, moratorium and CIRP directions were issued. Case-Laws Insolvency and Bankruptcy Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299380