https://www.taxtmi.com/caselaws?id=433860 A Resolution Professional's partial admission of a creditor's claim did not constitute acknowledgment of liability by the corporate debtor under Section 18 of the Limitation Act, 1963, because no balance sheet or other material showed a clear acknowledgment by the debtor itself. The claim arose from an agreement to sell with a fixed completion date, and the balance portion was therefore held to remain time-barred. The appellate tribunal upheld the finding that part-acceptance of the claim during claims verification could not extend limitation or revive the remaining claim. en-us Tue, 07 Feb 2023 00:00:00 +0530 Fri, 10 Feb 2023 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433860 A Resolution Professional's partial admission of a creditor's claim did not constitute acknowledgment of liability by the corporate debtor under Section 18 of the Limitation Act, 1963, because no balance sheet or other material showed a clear acknowledgment by the debtor itself. The claim arose from an agreement to sell with a fixed completion date, and the balance portion was therefore held to remain time-barred. The appellate tribunal upheld the finding that part-acceptance of the claim during claims verification could not extend limitation or revive the remaining claim. Case-Laws Insolvency and Bankruptcy Tue, 07 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433860