https://www.taxtmi.com/caselaws?id=460070 A written acknowledgment of liability made before expiry of limitation renews the limitation period under the Limitation Act, and a debtor's agreed instalment plan can revive the cause of action on default of each instalment. On the stated facts, claims tied to instalments due in September 1998, December 1998 and January 1999 were time-barred when the petition was filed, but the February 1999 instalment remained within limitation. The commentary also notes that winding-up jurisdiction is not a substitute for debt recovery where there is a bona fide dispute, yet admitted liability may justify limited monetary relief while coercive winding-up steps are kept in abeyance pending compliance. en-us Fri, 01 Feb 2013 00:00:00 +0530 Fri, 10 Jan 2025 12:01:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460070 A written acknowledgment of liability made before expiry of limitation renews the limitation period under the Limitation Act, and a debtor's agreed instalment plan can revive the cause of action on default of each instalment. On the stated facts, claims tied to instalments due in September 1998, December 1998 and January 1999 were time-barred when the petition was filed, but the February 1999 instalment remained within limitation. The commentary also notes that winding-up jurisdiction is not a substitute for debt recovery where there is a bona fide dispute, yet admitted liability may justify limited monetary relief while coercive winding-up steps are kept in abeyance pending compliance. Case-Laws Companies Law Fri, 01 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460070