Arpita Filaments Pvt. Ltd.

Whether issuance of six cheques by the Corporate Debtor towards the part payments of the outstanding operational debt would amount to an acknowledgment of debt thereby giving fresh lease of life to the claim of Operational Creditor qua such operational debt – Ritu Murli Manohar Goyal Vs. SVG Fashions Ltd. & Anr.- NCLAT

NCLAT held that it would be appropriate to notice that the general principle embodied in Section 3 of the Limitation Act, 1963 providing that every suit, appeal or application filed after the prescribed period of limitation shall be dismissed irrespective of the fact that limitation has not been set up as a defence is subject to the provisions contained in Sections 4 to 24 (inclusive) of the Limitation Act, 1963. These Sections carve out exceptions by providing exclusion and extension on various grounds enumerated therein.

Whether issuance of six cheques by the Corporate Debtor towards the part payments of the outstanding operational debt would amount to an acknowledgment of debt thereby giving fresh lease of life to the claim of Operational Creditor qua such operational debt – Ritu Murli Manohar Goyal Vs. SVG Fashions Ltd. & Anr.- NCLAT Read Post »

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