Supreme Court Dismisses Appeal by Suspended Director in IBC Section 7 Admission Case — Balance Sheet Entries Constitute Valid Acknowledgement of Debt Under Section 18 of Limitation Act, 1963. The Court held that entries in the balance sheet of a corporate debtor, even without naming the specific creditor, amount to an acknowledgement of debt extending limitation under Section 18 of the Limitation Act, 1963, read with Section 238A of the Insolvency and Bankruptcy Code, 2016.
18 Oct 2024The appeal arose from the admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC) by the National Company Law Tribun...
