https://www.taxtmi.com/caselaws?id=425482 The Supreme Court held in a case involving the application of Section 18 of the Limitation Act to proceedings under the Insolvency and Bankruptcy Code that acknowledgments in balance sheets can extend the limitation period. The Court overruled the lower court decisions and directed a fresh adjudication by the NCLT, emphasizing the need to consider acknowledgments of liability within the prescribed period. The NCLT was instructed to expedite the proceedings and keep all rights and contentions open for adjudication, disposing of any pending applications. en-us Mon, 18 Apr 2022 00:00:00 +0530 Mon, 25 Jul 2022 13:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425482 The Supreme Court held in a case involving the application of Section 18 of the Limitation Act to proceedings under the Insolvency and Bankruptcy Code that acknowledgments in balance sheets can extend the limitation period. The Court overruled the lower court decisions and directed a fresh adjudication by the NCLT, emphasizing the need to consider acknowledgments of liability within the prescribed period. The NCLT was instructed to expedite the proceedings and keep all rights and contentions open for adjudication, disposing of any pending applications. Case-Laws Insolvency and Bankruptcy Mon, 18 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425482