https://www.taxtmi.com/caselaws?id=789002 Acknowledgment of subsisting debt in written correspondence, if made before expiry of limitation, extends limitation under Section 18 of the Limitation Act, 1963, and this extension applies to the personal guarantor because liability is coextensive with the principal borrower. The phrase "without prejudice" does not, by itself, negate acknowledgment where the communication as a whole shows a proposal for settlement or restructuring and recognition of outstanding dues. An unconditional, absolute and continuing guarantee cannot be avoided by a unilateral request for release or an ineffective revocation attempt. The insolvency application against the personal guarantor was therefore not barred by limitation, and liability under the guarantee remained enforceable. en-us Fri, 06 Feb 2026 00:00:00 +0530 Thu, 02 Apr 2026 08:50:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789002 Acknowledgment of subsisting debt in written correspondence, if made before expiry of limitation, extends limitation under Section 18 of the Limitation Act, 1963, and this extension applies to the personal guarantor because liability is coextensive with the principal borrower. The phrase "without prejudice" does not, by itself, negate acknowledgment where the communication as a whole shows a proposal for settlement or restructuring and recognition of outstanding dues. An unconditional, absolute and continuing guarantee cannot be avoided by a unilateral request for release or an ineffective revocation attempt. The insolvency application against the personal guarantor was therefore not barred by limitation, and liability under the guarantee remained enforceable. Case-Laws IBC Fri, 06 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789002