https://www.taxtmi.com/caselaws?id=780178 NCLAT upholds admission of Section 9 petition: advance of Rs.1 crore was paid, goods were neither delivered nor refunded, and the corporate debtor's balance sheets acknowledged the liability, constituting an operational debt and default under the IBC. The balance-sheet acknowledgement dated 31.03.2022 restarted limitation, rendering the 23.06.2023 filing timely. Prior-case law of the SC recognizing balance-sheet acknowledgement for limitation was applied. The asserted pre-existing dispute was found to be unsubstantiated and raised belatedly; NeSL marking and later police complaint did not amount to a bona fide dispute. Appeal dismissed. en-us Fri, 17 Oct 2025 00:00:00 +0530 Sat, 25 Oct 2025 09:00:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780178 NCLAT upholds admission of Section 9 petition: advance of Rs.1 crore was paid, goods were neither delivered nor refunded, and the corporate debtor's balance sheets acknowledged the liability, constituting an operational debt and default under the IBC. The balance-sheet acknowledgement dated 31.03.2022 restarted limitation, rendering the 23.06.2023 filing timely. Prior-case law of the SC recognizing balance-sheet acknowledgement for limitation was applied. The asserted pre-existing dispute was found to be unsubstantiated and raised belatedly; NeSL marking and later police complaint did not amount to a bona fide dispute. Appeal dismissed. Case-Laws IBC Fri, 17 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780178