https://www.taxtmi.com/highlights?id=84108 The appellant, a decree holder, qualifies as a "Financial Creditor" under the Insolvency and Bankruptcy Code (IBC). The settlement agreement recognized the appellant's financial claim, and the decree formalized the respondent's obligation to pay, not altering the underlying financial debt's character. The petition filed by the appellant u/s 7 of the IBC is within the limitation period. The respondent's acknowledgments of debt before the High Court extended the limitation period u/s 18 of the Limitation Act, 1963. The NCLT order dismissing the petition on the ground of limitation is erroneous and liable to be set aside. The appeal is allowed. en-us Thu, 19 Dec 2024 08:47:41 +0530 Thu, 19 Dec 2024 08:47:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84108 The appellant, a decree holder, qualifies as a "Financial Creditor" under the Insolvency and Bankruptcy Code (IBC). The settlement agreement recognized the appellant's financial claim, and the decree formalized the respondent's obligation to pay, not altering the underlying financial debt's character. The petition filed by the appellant u/s 7 of the IBC is within the limitation period. The respondent's acknowledgments of debt before the High Court extended the limitation period u/s 18 of the Limitation Act, 1963. The NCLT order dismissing the petition on the ground of limitation is erroneous and liable to be set aside. The appeal is allowed. Highlights IBC Thu, 19 Dec 2024 08:47:41 +0530 https://www.taxtmi.com/highlights?id=84108