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
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
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
Debt',
sought to be enforced even by incorporating alleged acknowledgements in
the `Balance Sheets' of the `Corporate Debtor', was `Time Barred ... Entries in Balance Sheets', cannot be read in
`Isolation', and in the instant case, the amount exhibited in the `Balance
Sheets
2021
11
24 to erroneously hold that the acknowledgment of
debt in balance sheet and in OTS proposal would
amount to acknowledgment of liability within ... subject of limitation:
(a) Continuing wrong;
(b)Balance confirmation and acknowledgement of
liability in the Balance Sheet;
(c) Settlement offers made.
10. The date
shareholders. Therefore in
understanding the balance-sheets and in explaining the
statements in the balance-sheets, the balance-sheets
together with the Directors' report ... true the balance-sheet is a
statutory document and perhaps is a separate
document but the balance-sheet not confirmed or
passed by the shareholders
been pronounced on the issue of balance sheets, the balance
sheets cannot be held to contain any acknowledgment within the
meaning of Section ... After perusing the relevant balance sheets and director's report, we
are satisfied that balance sheets contain an acknowledgement of debt
and the mere
