https://www.taxtmi.com/caselaws?id=313808 Subsequent payments and other clear acknowledgments of debt extended limitation for the section 7 insolvency application under Article 137 of the Limitation Act, 1963. The record showed payments by the corporate debtor well beyond 2015, including a last payment on 23.02.2017, together with a later one-time settlement proposal, which amounted to acknowledgment of liability and preserved the subsisting debt for limitation purposes. As the application was filed on 31.01.2020, it was held to be within time. The limitation objection failed and the challenge to admission of the section 7 application was rejected. en-us Tue, 14 Mar 2023 00:00:00 +0530 Fri, 03 May 2024 15:07:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313808 Subsequent payments and other clear acknowledgments of debt extended limitation for the section 7 insolvency application under Article 137 of the Limitation Act, 1963. The record showed payments by the corporate debtor well beyond 2015, including a last payment on 23.02.2017, together with a later one-time settlement proposal, which amounted to acknowledgment of liability and preserved the subsisting debt for limitation purposes. As the application was filed on 31.01.2020, it was held to be within time. The limitation objection failed and the challenge to admission of the section 7 application was rejected. Case-Laws Insolvency and Bankruptcy Tue, 14 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313808