https://www.taxtmi.com/caselaws?id=416469 An application under section 9 of the Insolvency and Bankruptcy Code may avoid a limitation bar where the corporate debtor's balance-sheet entries amount to an unequivocal acknowledgment of liability under section 18 of the Limitation Act. Admission is also defeated if the record shows a genuine pre-existing dispute before the demand notice, including contested pricing, interest, quality, or settlement claims supported by material circumstances. The filing must further be backed by proper company authorisation; absence of a board resolution or equivalent authority can render the application defective in maintainability. The combined effect is that a section 9 petition requires a live undisputed debt and valid authority to proceed. en-us Fri, 03 Dec 2021 00:00:00 +0530 Thu, 30 Dec 2021 08:31:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416469 An application under section 9 of the Insolvency and Bankruptcy Code may avoid a limitation bar where the corporate debtor's balance-sheet entries amount to an unequivocal acknowledgment of liability under section 18 of the Limitation Act. Admission is also defeated if the record shows a genuine pre-existing dispute before the demand notice, including contested pricing, interest, quality, or settlement claims supported by material circumstances. The filing must further be backed by proper company authorisation; absence of a board resolution or equivalent authority can render the application defective in maintainability. The combined effect is that a section 9 petition requires a live undisputed debt and valid authority to proceed. Case-Laws Insolvency and Bankruptcy Fri, 03 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416469