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NCLAT Allows Section 7 Petition in Insolvency Case Due to Acknowledgment of Debt in Balance Sheets and Emails. Repeated acknowledgment of debt by Corporate Debtor in balance sheets and emails extends limitation period under Section 18 of Limitation Act, 1963, saving the petition from being time-barred.

The case involves an appeal filed by Akzo Nobel India Ltd. (Financial Creditor) against Stan Cars Pvt. Ltd. (Corporate Debtor) under Section 61 of the...

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High Court of Karnataka Allows Appeal in Money Recovery Suit — Admission of Liability in Written Statement Constitutes Acknowledgment Under Section 18 of Limitation Act, 1963. Suit for Recovery of Money Based on Supply of Goods Held Not Time-Barred Due to Defendant's Admission.

The case involves a suit for recovery of money filed by M/s. Jindal Steels, a partnership firm (plaintiff), against Trident Architectural Aluminium Pr...

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Bombay High Court Grants Unconditional Leave to Defend in Summary Suit for Diamond Recovery — Jangad Notes Held to Be Mere Acknowledgments of Entrustment Without Promise to Pay, Raising Triable Issues Under Order 37 CPC.

The plaintiff, Divyesh K. Kothari, filed a summary suit against M/s. Aatam Gems and its partners (defendants) for recovery of Rs.25,67,850/- with inte...

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Bombay High Court Allows Appeal in Negotiable Instruments Act Case — Reinstates Conviction Under Section 138. Partial Recovery Before Cheque Issuance Does Not Rebut Presumption Under Section 139 N.I. Act When Cheque Covers Balance Due.

The appeal arises from a judgment of the Sessions Court, Amravati, which set aside the conviction of the accused under Section 138 of the Negotiable I...

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Bombay High Court Allows Summary Judgment in Favor of Plaintiff in Commercial Debt Recovery Suit — Defendant's Evasive Denial and Limitation Plea Rejected Based on Confirmation of Accounts and Part Payments.

The plaintiff, Ajay Aggarwal, carrying on business as M/s. Royal Elastics, filed a summary suit against the defendant, Mohit Aneja, proprietor of M/s....

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Bombay High Court Allows Summons for Judgment in Summary Suit for Recovery of Debenture and Deposit Amounts — Acknowledgment of Liability Found in Correspondence. Evidentiary Value of Letters as Acknowledgment Under Section 18 of Limitation Act, 1963, Upheld to Extend Limitation Period.

The Bombay High Court heard a Summons for Judgment in a summary suit filed by Canara Bank and others, as trustees of Canbank Mutual Fund, a trust unde...

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Bombay High Court Allows Appeal in NI Act Case — 'Not Claimed' Notice Constitutes Valid Service Under Section 138 Proviso (b). Refusal to accept notice by addressee amounts to deemed service; acquittal set aside.

The appellant-complainant, Anil Gulabrao Khairkar, filed a criminal appeal against the judgment of the Special Court for the Negotiable Instruments Ac...

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Bombay High Court Allows Winding Up Appeal in Debt Dispute — Company Deemed Unable to Pay Debts Under Section 433(e) of Companies Act, 1956. Debt Acknowledged by Respondent Company and Not Bona Fide Disputed, Entitling Appellant to Winding Up Order.

The Appellant, Tata Advanced Materials Ltd., filed a winding up petition against the Respondent, M/s. Tooltech Global Engineering Pvt. Ltd., under Sec...

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Bombay High Court Grants Conditional Leave to Defend in Summary Suit for Recovery of Loan — Triable Issues Raised Regarding Limitation and Acknowledgment of Debt. Defendant's Application for Leave to Defend Allowed Subject to Deposit of 50% of Suit Amount Under Order XXXVII Rule 3(5) of CPC, 1908.

The plaintiffs, Carl Pinto De Andrade and others, filed a Commercial Summary Suit against Ventura Securities Limited for recovery of Rs. 1,00,00,000/-...