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2021 (6) TMI 117 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - issuance of TDS certificate - Time Limitation - HELD THAT:- The issuance of TDS certificate does not amount to an acknowledgement of debt by the Corporate Debtor. The amount shown in the ledger account of the applicant cannot be treated as acknowledgement of debt. Since, the applicant in its part-IV of the application has admitted that the last payment was made on 28.03.2017 and he also received a part payment on 28.04.2017 whereas the present application has been filed on 04.02.2021, that is after a period of three years when the right to apply accrues in view of Article 137 of the Limitation Act. The present Application stands Dismissed as barred by limitation.
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