https://www.taxtmi.com/caselaws?id=775136 Conciliation under Section 18(2) of the MSMED Act is a non-adjudicatory, contractual process governed by the conciliation provisions of the Arbitration and Conciliation Act, and the Limitation Act does not apply to it; a time-barred claim may still be referred to conciliation because limitation bars the court remedy, not the underlying debt. By contrast, arbitration under Section 18(3) attracts the Arbitration and Conciliation Act, including Section 43, so the Limitation Act applies at the arbitral stage and stale claims remain subject to that regime. Disclosure of unpaid amounts in financial statements under Section 22 may amount to acknowledgment in an appropriate case, but its effect depends on the facts. en-us Thu, 17 Jul 2025 00:00:00 +0530 Mon, 21 Jul 2025 08:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775136 Conciliation under Section 18(2) of the MSMED Act is a non-adjudicatory, contractual process governed by the conciliation provisions of the Arbitration and Conciliation Act, and the Limitation Act does not apply to it; a time-barred claim may still be referred to conciliation because limitation bars the court remedy, not the underlying debt. By contrast, arbitration under Section 18(3) attracts the Arbitration and Conciliation Act, including Section 43, so the Limitation Act applies at the arbitral stage and stale claims remain subject to that regime. Disclosure of unpaid amounts in financial statements under Section 22 may amount to acknowledgment in an appropriate case, but its effect depends on the facts. Case-Laws Indian Laws Thu, 17 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775136