https://www.taxtmi.com/caselaws?id=415762 A Section 7 application may rely on supplementary or additional affidavits even if the prescribed form is not formally amended, because the form is not a plaint and relevant material can be placed on record before final order. The appellate tribunal may also consider earlier-year balance sheets filed before it where their authenticity is not disputed and limitation must be assessed on the complete material. Balance sheets for 31 March 2015, 31 March 2016 and 31 March 2017 were treated as a written acknowledgment of continuing liability and subsisting debt, so limitation was extended under Section 18 of the Limitation Act and the insolvency admission was sustained. en-us Fri, 10 Dec 2021 00:00:00 +0530 Tue, 14 Dec 2021 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415762 A Section 7 application may rely on supplementary or additional affidavits even if the prescribed form is not formally amended, because the form is not a plaint and relevant material can be placed on record before final order. The appellate tribunal may also consider earlier-year balance sheets filed before it where their authenticity is not disputed and limitation must be assessed on the complete material. Balance sheets for 31 March 2015, 31 March 2016 and 31 March 2017 were treated as a written acknowledgment of continuing liability and subsisting debt, so limitation was extended under Section 18 of the Limitation Act and the insolvency admission was sustained. Case-Laws Insolvency and Bankruptcy Fri, 10 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415762