Tribunal Rules Section 7 Application Maintainable; Written Statement Didn't Reset Debt Limitation Period; MOU Shows Recurring Liability.

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....Maintainability of application u/s 7 of I&B Code - time limitation - as per tribunal acceptance of money in WS in Suit did not amount to acknowledgement of the debt and reset the limitation - in term of MOU clearly shows liability getting created every 6 months for the Respondent to pay the Appellant “till the entire booking amount has not been repaid” - since the entire booking amount has not been paid - not bar by limitation....