https://www.taxtmi.com/caselaws?id=422457 Limitation for a section 9 insolvency application can be extended only by a clear, unequivocal acknowledgment of liability or promise to pay made within the applicable limitation period. Letters, fax endorsements, or later references to liability that do not establish a timely and unambiguous acknowledgment do not revive a time-barred operational debt. The operational creditor must establish the relevant debt particulars and cannot transfer that burden to the corporate debtor. Time spent under the Sick Industrial Companies (Special Provisions) Act, 1985 is not excluded unless the creditor demonstrates participation in a rehabilitation scheme or a legal suspension of its recovery remedy. The insolvency application consequently remains barred by limitation. en-us Fri, 13 May 2022 00:00:00 +0530 Sat, 14 May 2022 13:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422457 Limitation for a section 9 insolvency application can be extended only by a clear, unequivocal acknowledgment of liability or promise to pay made within the applicable limitation period. Letters, fax endorsements, or later references to liability that do not establish a timely and unambiguous acknowledgment do not revive a time-barred operational debt. The operational creditor must establish the relevant debt particulars and cannot transfer that burden to the corporate debtor. Time spent under the Sick Industrial Companies (Special Provisions) Act, 1985 is not excluded unless the creditor demonstrates participation in a rehabilitation scheme or a legal suspension of its recovery remedy. The insolvency application consequently remains barred by limitation. Case-Laws Insolvency and Bankruptcy Fri, 13 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422457