Initiation of CIRP - Effect of an ‘Acknowledgment’ of dues after ...

Case Laws Insolvency and Bankruptcy

August 24, 2020

Initiation of CIRP - Effect of an ‘Acknowledgment’ of dues after the expiry of period of limitation - It cannot be gain said that ‘Acknowledgment of Liability’ is to be in writing, signed by a person against whom the property or right is claimed and the same must be within the period of Limitation. Suffice it for this Tribunal to relevantly point out that to bring an acknowledgment within the meaning of Section 18 of the Limitation Act, 1963, it ought to be an unqualified one which gives a fresh cause of action - AT

View Source

← Previous Next →

Initiation of CIRP - Effect of an ‘Acknowledgment’ of dues after ...

Case Laws Insolvency and Bankruptcy

August 24, 2020

You may also like:

Initiation of CIRP - Period of limitation - to be recognized from the date of NPA or Balance Sheet recognizing the debt - An application under Section 7 of the IBC would...

Period of limitation for filing of Application for initiation of CIRP - an application under Section 7 of the IBC would not be barred by limitation, on the ground that...

Initiation of CIRP - Period of limitation - It is clear that on the day of filing the petition U/S 7 of the Code, there was a subsisting liability on the corporate...

Initiation of CIRP - NCLT admitted the application u/s 7 - period of limitation - The application filed by the Respondent No. 1 was not barred by time there being...

Initiation of CIRP - NCLT admitted the application - NCLAT quashed the proceedings - Financial Creditors - Period of limitation - An acknowledgement made in writing...

Initiation of CIRP - Period of limitation - NPA - it appears that the bank had asserted, the bar of limitation did not apply as the corporate debtor had made...

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...

Initiation of CIRP - Application barred by time limitation or not - The acknowledgement made by the Principal Borrower within three years’ period from the date of...

Initiation of CIRP - Period of limitation -acknowledgement of debts in the Balance Sheet - the acknowledgement in Balance Sheet for FY 2016-17, relied upon by the...

Initiation of CIRP - time limitation - In respect of the invoices raised in the year 2013 the prescribed period of limitation being three years in terms of Article 137...

Initiation of CIRP - Period of limitation - It is now well settled that the provisions of the Limitation Act are applicable to proceedings under the IBC as far as may be...

Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an...

Initiation of CIRP - liability of Guarantor of loan - acknowledgment of debt by the Principal Borrower shall be binding on the Guarantor or not - The Tribunal found no...

Determining the maintainability of a Section 7 application under the Insolvency and Bankruptcy Code (IBC) based on the date of default and the applicability of...

Initiation of CIRP - time limitation - there is no support to the submission from the Section 10A that the prohibition from initiation of CIRP was limited for six months...

Quick Updates: