https://www.taxtmi.com/caselaws?id=774287 A written acknowledgment of liability in a one-time settlement proposal can extend limitation for proceedings against a personal guarantor where the guarantee terms bind the guarantor to the borrower's acknowledgment. The proposal signed by the director was treated as an acknowledgment of debt, and the later insolvency application under Section 95 of the Insolvency and Bankruptcy Code was held to be within limitation. The limitation period was computed from the acknowledgment date and then adjusted for the Supreme Court's exclusion of limitation during the Covid period, leaving the proceedings timely. en-us Thu, 03 Jul 2025 00:00:00 +0530 Mon, 07 Jul 2025 08:42:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774287 A written acknowledgment of liability in a one-time settlement proposal can extend limitation for proceedings against a personal guarantor where the guarantee terms bind the guarantor to the borrower's acknowledgment. The proposal signed by the director was treated as an acknowledgment of debt, and the later insolvency application under Section 95 of the Insolvency and Bankruptcy Code was held to be within limitation. The limitation period was computed from the acknowledgment date and then adjusted for the Supreme Court's exclusion of limitation during the Covid period, leaving the proceedings timely. Case-Laws IBC Thu, 03 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774287