https://www.taxtmi.com/caselaws?id=764979 The court dismissed the appeal, affirming that the Section 7 application filed by the Bank of India was authorized by a competent person. It concluded that the application was properly filed by an authorized official as per the board's resolution. Additionally, the court determined that the application was not barred by limitation, as the One-Time Settlement proposals were considered acknowledgments of debt, extending the limitation period. Thus, the application was filed within the statutory period, and the appellant's arguments regarding unauthorized filing and time-barred claims were rejected. en-us Tue, 21 Jan 2025 00:00:00 +0530 Thu, 23 Jan 2025 08:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764979 The court dismissed the appeal, affirming that the Section 7 application filed by the Bank of India was authorized by a competent person. It concluded that the application was properly filed by an authorized official as per the board's resolution. Additionally, the court determined that the application was not barred by limitation, as the One-Time Settlement proposals were considered acknowledgments of debt, extending the limitation period. Thus, the application was filed within the statutory period, and the appellant's arguments regarding unauthorized filing and time-barred claims were rejected. Case-Laws IBC Tue, 21 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764979