date of the signing of the balance-sheet
and the end of the previous year. The balance-sheet contains
no admission of the amount ... have an entry in a balance sheet with notes
annexed to or forming part of such balance sheet, or in the auditor’s report,
which
approve balance sheets, not even with the permission of the
Adjudicating Authority. Therefore, these fabricated balance sheets
cannot, in any circumstance, constitute acknowledgment of debt ... balance sheets were "invalid" as they were signed by
suspended directors was legally untenable, since the signing of balance sheets
even during CIRP
Therefore, in understanding the balance
sheets and in explaining the statements in the
balance-sheets, the balance-sheets together
with the Directors' report must ... unequivocal
acknowledgement on the balance-sheet is a
statutory document and perhaps is a separate
document but the balance sheet not confirmed
or passed
from time to time, passed the balance sheets before them and two of them signed the balance sheets on behalf of the board to fulfil ... been made in the balance sheet that the company owed a specified sum to a shareholder to whom the balance sheet was sent
default being 31st July, 2013, the balance sheet
as on 31st March, 2017, which was the only balance sheet available before
the Adjudicating Authority, does ... date of the signing of the balance-sheet and the end of
the previous year. The balance-sheet contains no
admission of the amount
extension of period of
limitation. Appellant claims that balance-sheet cannot be relied on for
acknowledgment under Section 18 . Reference is made to Judgment ... that in those Judgments it has been held that balance-sheet is not an
acknowledgment of debt. It is also argued that in the present
this Tribunal has observed that if Balance-Sheet of the Company is considered
to be acknowledgment of debt then in effect there would ... Report
(Annexure A19 -Page 316) in the part of Balance-Sheet of 2016-17 showing
acknowledgment of Rs. 35,28,33,333 as on 31st
debt of the Appellant,
however in prior Balance Sheets no dispute was raised. In
subsequent to Balance Sheets, the mention regarding their intent for
resolution ... overall
basis out of 13 Balance Sheets from 2006-07 to 2018-19, apparently
in the three Balance Sheets, disputes were recorded as noted above
balance sheets should be read with the notes in the
balance sheets, and in particular the note in the balance sheet ... loan
was acknowledged through the balance sheets and therefore we
are considering the balance sheets to examine the
acknowledgement, if any, of the said loan
last balance-
sheet filed by CD with ROC was in the year 2013, and
the same balance-sheet made no acknowledgement of
liability ... thereby acknowledged its debt.
14.12.2018 NCLT passed CIRP Order.
(ii) Acknowledgement in the balance-sheets,
filed by CD, of its debts due to FCs would
