TMI Blog2017 (4) TMI 1499X X X X Extracts X X X X X X X X Extracts X X X X ..... dgement must be in writing and the acknowledgement need not specify the quantum of the debt. The company petition carried by this appellant to the Company Court was ex-facie barred by limitation save the assertion in paragraph 18 thereof that the company had acknowledged its liability in the balancesheets for the three relevant financial years. Copies of the balance-sheets appear to have been appended to the petition, but nothing from the balance-sheets identified the appellant as a creditor whose debt had been acknowledged to be due by the respondent company. The petitioner had no claim to carry before a Company Court for winding up the respondent - petition dismissed. - APO No. 147 of 2017, ACO No. 152 of 2016, ACO No. 153 of 2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2015 had acknowledged the aforesaid dues of the petitioner . The appellant could not demonstrate from the relevant financial statements or balance-sheets that the debt of the appellant was acknowledged or even alluded to in such records. The appellant refers to a judgment reported at AIR 1962 Cal 115 (Bengal Silk Mills Co. (In Liquidation) vs. Ismail Golam Hossain Ariff) for the proposition that the acknowledgement of dues to creditors evident from a balance-sheet would suffice and an individual creditor did not have to demonstrate the acknowledgement of the debt of such creditor for the purpose of the Limitation Act. The appellant also refers to Section 41 of the Income Tax Act, 1961. Paragraph 11 of the Division Bench judgme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ident. In other words, for an acknowledgement to be held against a person, such person should acknowledge the debt due to another, such acknowledgement must be in writing and the acknowledgement need not specify the quantum of the debt. The company petition carried by this appellant to the Company Court was ex-facie barred by limitation save the assertion in paragraph 18 thereof that the company had acknowledged its liability in the balancesheets for the three relevant financial years. Copies of the balance-sheets appear to have been appended to the petition, but nothing from the balance-sheets identified the appellant as a creditor whose debt had been acknowledged to be due by the respondent company. The order impugned, in the ci ..... X X X X Extracts X X X X X X X X Extracts X X X X
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