https://www.taxtmi.com/caselaws?id=426090 For a Section 7 IBC application, limitation is governed by Article 137 of the Limitation Act from the date of default, but the adjudicating forum must consider any valid written acknowledgment within limitation and any additional material bearing on delay. A written and signed promise to pay a time-barred debt may independently attract Section 25(3) of the Contract Act, distinct from acknowledgment under Section 18 of the Limitation Act. The SC set aside the closure of CIRP proceedings and remanded the matter for fresh consideration after examining additional pleadings, affidavits, documents, and the alleged settlement. en-us Fri, 05 Aug 2022 00:00:00 +0530 Thu, 19 Oct 2023 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426090 For a Section 7 IBC application, limitation is governed by Article 137 of the Limitation Act from the date of default, but the adjudicating forum must consider any valid written acknowledgment within limitation and any additional material bearing on delay. A written and signed promise to pay a time-barred debt may independently attract Section 25(3) of the Contract Act, distinct from acknowledgment under Section 18 of the Limitation Act. The SC set aside the closure of CIRP proceedings and remanded the matter for fresh consideration after examining additional pleadings, affidavits, documents, and the alleged settlement. Case-Laws Insolvency and Bankruptcy Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426090