https://www.taxtmi.com/caselaws?id=467509 Issue concerns whether a Section 9 insolvency petition filed on 29.03.2019 is time-barred where debt fell due on 22.11.2012 and an alleged written acknowledgment dated 31.03.2016 exists. The legal principle applied is that a debtor's written acknowledgment must be signed and supported by admissible evidence before the expiry of the limitation period to create a fresh limitation period under the Limitation Act; unverified books of account or unsubstantiated balance confirmations do not qualify as such acknowledgment. Outcome: the alleged acknowledgment was not established by credible admissible documentary evidence and the Section 9 application is barred by limitation. en-us Wed, 25 Sep 2024 00:00:00 +0530 Sat, 21 Mar 2026 22:41:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467509 Issue concerns whether a Section 9 insolvency petition filed on 29.03.2019 is time-barred where debt fell due on 22.11.2012 and an alleged written acknowledgment dated 31.03.2016 exists. The legal principle applied is that a debtor's written acknowledgment must be signed and supported by admissible evidence before the expiry of the limitation period to create a fresh limitation period under the Limitation Act; unverified books of account or unsubstantiated balance confirmations do not qualify as such acknowledgment. Outcome: the alleged acknowledgment was not established by credible admissible documentary evidence and the Section 9 application is barred by limitation. Case-Laws IBC Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467509