https://www.taxtmi.com/highlights?id=103539 Continuing failure to deliver possession of an allotted unit or refund amounts received constituted a continuing default, creating a continuing cause of action for a financial creditor's insolvency application. Inclusion of the creditor's claim in a settlement scheme operated as an acknowledgment of debt, preventing the claim from being treated as time-barred. The application therefore remained within limitation. Once the revival scheme was declared unworkable and parties were permitted to revive insolvency proceedings, objections based on the scheme's subsistence and parallel proceedings no longer survived. The corporate debtor's admission into insolvency consequently remained effective. en-us Wed, 09 Sep 2026 08:20:28 +0530 Wed, 09 Sep 2026 08:20:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=103539 Continuing failure to deliver possession of an allotted unit or refund amounts received constituted a continuing default, creating a continuing cause of action for a financial creditor's insolvency application. Inclusion of the creditor's claim in a settlement scheme operated as an acknowledgment of debt, preventing the claim from being treated as time-barred. The application therefore remained within limitation. Once the revival scheme was declared unworkable and parties were permitted to revive insolvency proceedings, objections based on the scheme's subsistence and parallel proceedings no longer survived. The corporate debtor's admission into insolvency consequently remained effective. Highlights IBC Wed, 09 Sep 2026 08:20:28 +0530 https://www.taxtmi.com/highlights?id=103539