TaxTMI 
TaxTMI 
2022 (3) TMI 1173
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....eard learned counsel for the parties finally at this stage itself. By way of this appeal, the appellant-company, said to be the corporate debtor within the meaning of the Insolvency and Bankruptcy Code, 2016 (Hereinafter also referred to as 'the Code), has questioned the judgment and order dated 15.12.2021, as passed in Company Appeal (AT) Insolvency No. 981 of 2020 whereby, the National Company Law Appellate Tribunal, Principal Bench, New Delhi (Hereinafter also referred to as 'the Appellate Tribunal' or 'the NCLAT'.) has set aside the order dated 06.10.2020, as passed by the National Company Law Tribunal, New Delhi Bench- V (Hereinafter also referred to as 'the Adjudicating Authority' or 'the NCLT'.) in CP(IB) 841(ND) of 2020 and has als....
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...., the NCLT considered the documents referred by the applicant in support of its contention that there had been acknowledgment of debt and thereby the period of limitation would shift from the date of acknowledgment. The NCLT observed that the document dated 15.12.2017 was a credit memo, issued by the applicant and not by the respondent and thus, it could not be treated as an acknowledgment of debt. As regards document dated 07.07.2016 carrying the signatures of the Director of the Company and addressed to the Bank regarding payment of pending invoices, the NCLT observed that even if the said letter was treated as an acknowledgment of debt, the limitation would run from its date, i.e., 07.07.2016. The NCLT further considered another letter d....
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....n time and thus, it was held that the Adjudicating Authority erred in holding the applicant's claim to be barred by time. Though several contentions have been urged by the learned counsel for contesting parties as regards effect of the said documents placed before the Appellate Tribunal by way of I.A. No. 2685 of 2020 but, we are clearly of the view that the impugned order allowing the appeal and even admitting the application under Section 9 of the Code cannot be sustained on a short point that the said additional documents were taken on record only while finally deciding the appeal and without adequate opportunity of response to the corporate debtor. However, at the same time, due consideration of the said documents also appears requisit....