Authority Misinterprets MD's Letter; No Debt Acknowledgment for Creditor u/s 18 Limitation Act in CIRP Case.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Initiation of CIRP - The learned Adjudicating Authority has taken an erroneous view of the matter and on evaluating the letter of the Managing Director of the Corporate Debtor as an acknowledgement of the debt - the said letter was not within limits so that the operational Creditor could claim the benefit of Section 18 of the Limitation Act. - AT....