https://www.taxtmi.com/caselaws?id=783938 A written acknowledgment of liability in the principal borrower's balance sheets, together with repeated part-payments, was treated as extending limitation under Section 18 of the Limitation Act, 1963, creating a fresh limitation period for filing Section 7 applications. Because a guarantor's liability is co-extensive with that of the principal borrower, the acknowledgment was held available against the corporate guarantors as well. The excluded COVID period from 15.03.2020 to 28.02.2022 further supported the computation of limitation, so the Section 7 applications were treated as within time and maintainable. en-us Tue, 23 Dec 2025 00:00:00 +0530 Fri, 26 Dec 2025 07:18:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783938 A written acknowledgment of liability in the principal borrower's balance sheets, together with repeated part-payments, was treated as extending limitation under Section 18 of the Limitation Act, 1963, creating a fresh limitation period for filing Section 7 applications. Because a guarantor's liability is co-extensive with that of the principal borrower, the acknowledgment was held available against the corporate guarantors as well. The excluded COVID period from 15.03.2020 to 28.02.2022 further supported the computation of limitation, so the Section 7 applications were treated as within time and maintainable. Case-Laws IBC Tue, 23 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783938