https://www.taxtmi.com/caselaws?id=422788 The Adjudicating Authority admitted the Section 7 Application under the Insolvency and Bankruptcy Code, 2016 by the Financial Creditor against the Corporate Debtor, despite the NPA declaration in 2016. The Corporate Debtor's ongoing payments until September 2019 indicated acknowledgment of the debt, allowing the Application to proceed. The Tribunal upheld the decision, considering materials from the Rejoinder Affidavit as part of the pleadings. The Tribunal also clarified the acknowledgment of liability under Section 18, extending the limitation period due to acknowledgment demonstrated in this case, leading to the dismissal of the Appeal. en-us Fri, 20 May 2022 00:00:00 +0530 Sat, 21 May 2022 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422788 The Adjudicating Authority admitted the Section 7 Application under the Insolvency and Bankruptcy Code, 2016 by the Financial Creditor against the Corporate Debtor, despite the NPA declaration in 2016. The Corporate Debtor's ongoing payments until September 2019 indicated acknowledgment of the debt, allowing the Application to proceed. The Tribunal upheld the decision, considering materials from the Rejoinder Affidavit as part of the pleadings. The Tribunal also clarified the acknowledgment of liability under Section 18, extending the limitation period due to acknowledgment demonstrated in this case, leading to the dismissal of the Appeal. Case-Laws Insolvency and Bankruptcy Fri, 20 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422788