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Bank's CIRP Initiation Fails Due to Lack of Written Acknowledgment Extending Limitation Period u/s 13(2) SARFAESI Act.

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....Initiation of CIRP - date of default - period of limitation - the Bank could not produce any evidence to prove that there has been acknowledgment in writing and signed by the Appellant for the purpose of extension of period of limitation except for the reply to the notice issued under Section 13(2) of the SARFAESI Act, 2002 in which the Appellant did not make any unambiguous and unequivocal acknowledgement which could extend the period of limitation. - AT....

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Bank's CIRP Initiation Fails Due to Lack of Written Acknowledgment Extending Limitation Period u/s 13(2) SARFAESI Act.