CIRP initiation considers NPA date as September 30, 2014; debt acknowledgment and financials key for limitation period.

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Full Text of the Document

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....Initiation of CIRP - Period of limitation - Having regard to the fact that the date of NPA is 30/09/2014, there is an ‘acknowledgement of debt’ dated 19/12/2015 and the Financial Statements of the year ending 2016 evidence the loans taken by the ‘Corporate Debtor’, apart from the various Restructuring/OTS Proposals advanced between the parties, indicating the existence of a jural relationship between them - AT....