https://www.taxtmi.com/caselaws?id=418878 For a section 7 insolvency application, limitation runs from the date of default, treated here as the date of NPA. Section 18 of the Limitation Act, 1963 applies to proceedings under the Insolvency and Bankruptcy Code, 2016 through section 238A, so a written acknowledgment of subsisting liability made before expiry of the original limitation period triggers a fresh period of limitation. The settlement communications and acknowledgments were accepted as valid acknowledgments extending time, and the application was therefore within limitation and maintainable. en-us Tue, 22 Feb 2022 00:00:00 +0530 Sat, 26 Feb 2022 05:59:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418878 For a section 7 insolvency application, limitation runs from the date of default, treated here as the date of NPA. Section 18 of the Limitation Act, 1963 applies to proceedings under the Insolvency and Bankruptcy Code, 2016 through section 238A, so a written acknowledgment of subsisting liability made before expiry of the original limitation period triggers a fresh period of limitation. The settlement communications and acknowledgments were accepted as valid acknowledgments extending time, and the application was therefore within limitation and maintainable. Case-Laws Insolvency and Bankruptcy Tue, 22 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418878