https://www.taxtmi.com/caselaws?id=778329 NCLAT upheld the Adjudicating Authority's admission of the Section 7 application, finding the Rs. 2,50,00,000 constituted financial debt under Section 5(8) and noting repeated acknowledgements in the corporate debtor's audited financial statements for 2017-18, 2018-19, 2021-22 and 2022-23. Those acknowledgements extended the limitation period under Section 18 of the Limitation Act, rendering the Section 7 filing of 30.03.2024 timely. The Tribunal found no error in the finding of debt and default and dismissed the appeal. en-us Fri, 29 Aug 2025 00:00:00 +0530 Mon, 15 Sep 2025 08:26:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778329 NCLAT upheld the Adjudicating Authority's admission of the Section 7 application, finding the Rs. 2,50,00,000 constituted financial debt under Section 5(8) and noting repeated acknowledgements in the corporate debtor's audited financial statements for 2017-18, 2018-19, 2021-22 and 2022-23. Those acknowledgements extended the limitation period under Section 18 of the Limitation Act, rendering the Section 7 filing of 30.03.2024 timely. The Tribunal found no error in the finding of debt and default and dismissed the appeal. Case-Laws IBC Fri, 29 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778329