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2021 (10) TMI 1348 - SC - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - time limitation - acknowledgement under Section 18 of the Limitation Act, 1963 - HELD THAT:- It was held in Asset Reconstruction Company (India) Limited [2021 (4) TMI 753 - SUPREME COURT] that There can be no doubt whatsoever that the appellant has been completely remiss and deficient in pleading acknowledgement of liability on the facts of this case. However, given the staggering amount allegedly due from the respondents, we afford one further opportunity to the appellant to amend its pleadings so as to incorporate what is stated in the written submissions filed by it before NCLAT, subject to costs of Rs 1,00,000 to be paid by the appellant to the respondents within a period of four weeks from today. Subject to the appellant being put to terms, the course adopted by this Court in Asset Reconstruction Company (India) Limited [2021 (4) TMI 753 - SUPREME COURT] should be followed. Accordingly, the appeal is allowed and the impugned order is set aside. The appeal is remanded back and will be restored back to file.
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