https://www.taxtmi.com/caselaws?id=768783 The NCLAT dismissed an appeal challenging NCLT's admission of a corporate debtor into CIRP under Section 9 of IBC, 2016. The appellant raised limitation as a defense for the first time on appeal, arguing the operational creditor's application filed on 22.02.2024 exceeded the three-year limitation period. However, NCLAT found the corporate debtor had issued written acknowledgments of debt dated 16.04.2018, 03.01.2019, and 22.12.2021. Since the application was filed within three years of the last acknowledgment (22.12.2021), it was held to be within the limitation period per Section 18 of the Limitation Act. The tribunal found no evidence of connivance between parties and upheld NCLT's reasoned order admitting the debtor into CIRP. en-us Wed, 09 Apr 2025 00:00:00 +0530 Mon, 14 Apr 2025 08:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768783 The NCLAT dismissed an appeal challenging NCLT's admission of a corporate debtor into CIRP under Section 9 of IBC, 2016. The appellant raised limitation as a defense for the first time on appeal, arguing the operational creditor's application filed on 22.02.2024 exceeded the three-year limitation period. However, NCLAT found the corporate debtor had issued written acknowledgments of debt dated 16.04.2018, 03.01.2019, and 22.12.2021. Since the application was filed within three years of the last acknowledgment (22.12.2021), it was held to be within the limitation period per Section 18 of the Limitation Act. The tribunal found no evidence of connivance between parties and upheld NCLT's reasoned order admitting the debtor into CIRP. Case-Laws IBC Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768783