https://www.taxtmi.com/caselaws?id=303451 The Supreme Court allowed the appellant's appeal in a case concerning the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was initially dismissed as time-barred by the NCLAT. Despite the acknowledgements in the respondent's balance sheets, the NCLAT upheld the time-barred decision. However, the Supreme Court granted the appellant permission to amend the application under Section 7 to include the case based on these acknowledgements. The Court emphasized that the appellant must bear costs and that the amendment is limited to the scope of acknowledgements without revisiting specific document-related issues. en-us Wed, 20 Oct 2021 00:00:00 +0530 Sat, 23 Jul 2022 22:27:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303451 The Supreme Court allowed the appellant's appeal in a case concerning the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was initially dismissed as time-barred by the NCLAT. Despite the acknowledgements in the respondent's balance sheets, the NCLAT upheld the time-barred decision. However, the Supreme Court granted the appellant permission to amend the application under Section 7 to include the case based on these acknowledgements. The Court emphasized that the appellant must bear costs and that the amendment is limited to the scope of acknowledgements without revisiting specific document-related issues. Case-Laws Insolvency and Bankruptcy Wed, 20 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303451