https://www.taxtmi.com/caselaws?id=468062 A Section 7 insolvency application was examined for limitation in light of an earlier default, later restructuring, and one-time settlement arrangements. The Tribunal treated the subsequent settlement agreements in 2011 and 2014, together with continued part-payments, as legally significant because they indicated a fresh promise to pay and not merely the original default date. Applying the effect of Section 25 of the Contract Act, 1872, the claim was found to remain enforceable for limitation purposes. The objection that the debt was time-barred was rejected, and the insolvency application was held to be within limitation. en-us Thu, 11 Jan 2024 00:00:00 +0530 Wed, 15 Apr 2026 14:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468062 A Section 7 insolvency application was examined for limitation in light of an earlier default, later restructuring, and one-time settlement arrangements. The Tribunal treated the subsequent settlement agreements in 2011 and 2014, together with continued part-payments, as legally significant because they indicated a fresh promise to pay and not merely the original default date. Applying the effect of Section 25 of the Contract Act, 1872, the claim was found to remain enforceable for limitation purposes. The objection that the debt was time-barred was rejected, and the insolvency application was held to be within limitation. Case-Laws IBC Thu, 11 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468062