argument
is that acknowledgement of debt in the Balance Sheet also
amounts to acknowledgement under Section 18 of the
Limitation Act.
8. The Judgement ... anything. The statement is not an evidence
of an acknowledgement. It is the
acknowledgement."
Therefore, the without prejudice Rule could have no
application
years' balance sheets contain unequivocal acknowledgment
of the debt and each acknowledgement gave a fresh period of limitation to
Respondent No.1 to file ... Section 18 of the Limitation Act. Section 18
of the Limitation Act provides:
"18. Effect of acknowledgment in writing.-- (1) Where,
before the expiration
provisions of the Limitation Act to submit
that in order to apply Article 137 of the Limitation Act , other provisions of
Limitation ... date on which the acknowledgment is
signed. However, the acknowledgment must be made
before the period of limitation expires.
67. As observed above, Section 238A
said period of
limitation can only be extended in the manner provided in the Limitation
Act . For example, an acknowledgement of liability under Section ... matter of acknowledgment. What can be acknowledged is a
present subsisting liability. An acknowledgment made with reference to
a liability, cannot extend limitation
matter of
acknowledgment. What can be acknowledged is a present
subsisting liability. An acknowledgment made with reference
to a liability, cannot extend limitation ... Limitation Act, a fresh period of limitation started from 13th April 2015. It is
also apparent that within the limitation period, another letter of
acknowledgement
even otherwise cannot be read as an 'Acknowledgement' as per Section 18
of the Limitation Act, 1963 and thus, the Petition Aled under ... First Respondent submits that the
'debt is not barred by limitation im as much as the Application under Section 9
Company Appeal
ground of bar of
Limitation.
Our submissions on the issue of limitation
a. The important dates for limitation purposes are being given in the table ... Limitation Act to save limitation under Article 137
of the Limitation Act . Therefore, any such document purporting
to be an acknowledgment of debt or liability
Section 18 of the
Limitation Act, providing for extension of the period
of limitation upon making of acknowledgment by the
party against whom a right ... Section 18 of the
Limitation Act the initial period of limitation was already
covered by way of acknowledgement by the corporate
debtor in its balance
extend the
period of Limitation under Section 18 of the Limitation Act, 1963 (previously
Section 19 of the Limitation Act, 1877).
6.10 During the course ... liability under Section 18 of Limitation Act, 1963 would extend the period of
Limitation under IBC, 2016.
6.12 ACKNOWLEDGEMENT MADE IN LETTER DATED
limitation
accruing due to the effect of Section 18 of the Limitation
Act. Section 18 of the Limitation Act gets attracted the moment
acknowledgement ... expiration of the prescribed period of
limitation including the fresh period of limitation due to
acknowledgement of the debt, from time to time, for institution
