https://www.taxtmi.com/caselaws?id=790867 A written acknowledgement of liability within the limitation period can extend time under Section 18 of the Limitation Act, and filing on the next working day after court closure may be protected by Section 4. The text also treats balance-sheet entries, the 09.06.2016 communication, and related written material as prima facie evidence of financial debt and default for a Section 7 insolvency application. It further states that Section 7(3) requires prima facie disclosure of debt and default at admission, not strict proof, and that a new limitation objection raised only in written submissions is not part of the pleadings and cannot defeat the application. en-us Mon, 20 Apr 2026 00:00:00 +0530 Sat, 02 May 2026 07:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790867 A written acknowledgement of liability within the limitation period can extend time under Section 18 of the Limitation Act, and filing on the next working day after court closure may be protected by Section 4. The text also treats balance-sheet entries, the 09.06.2016 communication, and related written material as prima facie evidence of financial debt and default for a Section 7 insolvency application. It further states that Section 7(3) requires prima facie disclosure of debt and default at admission, not strict proof, and that a new limitation objection raised only in written submissions is not part of the pleadings and cannot defeat the application. Case-Laws IBC Mon, 20 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790867