2017 (4) TMI 1499

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.... P. Dhacholia, Adv. Ms. Manju Bhuteria, Adv. Mr. Roshan Sengupta, Adv. The Court : In view of the good grounds shown, the marginal delay in preferring the appeal is condoned. ACO No. 152 of 2016 is allowed without costs. The appeal is completely frivolous and devoid of merit. The appeal arises from an order dated September 21, 2016 by which the appellant's petition for winding up the responden....

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....nancial statements of the respondent company for the financial years ended March 31, 2013, March 31, 2014 and March 31, 2015 had "acknowledged the aforesaid dues of the petitioner...". The appellant could not demonstrate from the relevant financial statements or balance-sheets that the debt of the appellant was acknowledged or even alluded to in such records. The appellant refers to a judgment re....

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....n the relevant balance-sheets and the Court observed that each of the acknowledgements amounted to an "admission that a certain sum was a debt owing by the company as on November 30 of the preceding year." The ratio in that case was not that when the balance-sheet of a company revealed that debts were due to creditors in general without indicating any creditor in particular, all creditors could ci....

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....to be held against a person, such person should acknowledge the debt due to another, such acknowledgement must be in writing and the acknowledgement need not specify the quantum of the debt. The company petition carried by this appellant to the Company Court was ex-facie barred by limitation save the assertion in paragraph 18 thereof that the company had acknowledged its liability in the balances....