https://www.taxtmi.com/caselaws?id=299478 An application under Section 9 of the Insolvency and Bankruptcy Code was held time-barred because it was filed more than three years after default, treated as the date payment first became due and remained unpaid. The documents relied on to extend limitation were examined separately under Section 18 of the Limitation Act: a credit note issued by the applicant could not constitute acknowledgment by the respondent, and a document issued by the applicant was likewise ineffective. Although a letter signed by the respondent to a bank could amount to acknowledgment, it did not bring the filing within three years. The application was therefore barred by limitation and liable to be dismissed. en-us Tue, 06 Oct 2020 00:00:00 +0530 Thu, 16 Dec 2021 09:00:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299478 An application under Section 9 of the Insolvency and Bankruptcy Code was held time-barred because it was filed more than three years after default, treated as the date payment first became due and remained unpaid. The documents relied on to extend limitation were examined separately under Section 18 of the Limitation Act: a credit note issued by the applicant could not constitute acknowledgment by the respondent, and a document issued by the applicant was likewise ineffective. Although a letter signed by the respondent to a bank could amount to acknowledgment, it did not bring the filing within three years. The application was therefore barred by limitation and liable to be dismissed. Case-Laws Insolvency and Bankruptcy Tue, 06 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299478