https://www.taxtmi.com/caselaws?id=758168 A written communication by a guarantor can amount to acknowledgment of liability if, read in context, it admits the subsisting debt and is made before expiry of limitation. The letter dated 12.06.2017 referred to the outstanding loan, sought time for repayment, and requested that further action be withheld, showing a clear admission of liability. It was therefore treated as a valid acknowledgment under Section 18 of the Limitation Act, 1963, and a fresh period of limitation ran from that date for the Section 95 proceeding. en-us Wed, 04 Sep 2024 00:00:00 +0530 Thu, 05 Sep 2024 12:28:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758168 A written communication by a guarantor can amount to acknowledgment of liability if, read in context, it admits the subsisting debt and is made before expiry of limitation. The letter dated 12.06.2017 referred to the outstanding loan, sought time for repayment, and requested that further action be withheld, showing a clear admission of liability. It was therefore treated as a valid acknowledgment under Section 18 of the Limitation Act, 1963, and a fresh period of limitation ran from that date for the Section 95 proceeding. Case-Laws IBC Wed, 04 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758168