https://www.taxtmi.com/caselaws?id=419378 The Appellate Tribunal allowed the appeal against the rejection of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 as time-barred. The Adjudicating Authority had dismissed the application for being beyond the limitation period, citing lack of written communication acknowledging the debt. However, the Tribunal found that the Corporate Debtor's acknowledgment letters extended the limitation period, enabling the application to be filed within the prescribed time frame. The order rejecting the application was set aside, directing the Adjudicating Authority to admit the application for further proceedings within six weeks, with a settlement option for the parties. en-us Wed, 09 Mar 2022 00:00:00 +0530 Thu, 10 Mar 2022 08:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419378 The Appellate Tribunal allowed the appeal against the rejection of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 as time-barred. The Adjudicating Authority had dismissed the application for being beyond the limitation period, citing lack of written communication acknowledging the debt. However, the Tribunal found that the Corporate Debtor's acknowledgment letters extended the limitation period, enabling the application to be filed within the prescribed time frame. The order rejecting the application was set aside, directing the Adjudicating Authority to admit the application for further proceedings within six weeks, with a settlement option for the parties. Case-Laws Insolvency and Bankruptcy Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419378