TMI Blog2022 (3) TMI 416X X X X Extracts X X X X X X X X Extracts X X X X ..... the account by the Corporate Debtor. The last confirmation of account being issued on 31.05.2016 for the period 01.04.2016 to 30.05.2016, thus the Appellant can clearly claim the benefit of Section 18 of the Limitation Act and application having been filed within three years from the last letter of acknowledgment on 31.05.2016 the application was well within time. The Adjudicating Authority has not referred to the acknowledgment i.e. confirmation of accounts, which letters were issued by the Corporate Debtor and which were on the record of the Adjudicating Authority. The confirmation of account letters issued by the Corporate Debtor to the Operational Creditor clearly extend the period of limitation for the Appellant to file application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orate Debtor. The Adjudicating Authority by the impugned order dismissed the application. Para 14 of the impugned order contains the observations of the Adjudicating Authority on basis of which application was held as barred by time, which is to the following effect: OBSERVATIONS 14. 14.1 The Operational Creditor has filed Application for the Operational Debt default of Principal amount of INR.30,27,622.00 along with interest and Sales Tax Due. 14.2 The Operational Creditor has submitted the invoices in support of its claim but those invoices are from 19.04.2010 to 11.07.2011 which are almost 7 years old at the time of filing the Application. 14.3 Date of default is 16.02.2011. 14.4 One Payment of INR.2,00,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tended as per Section 18 of the Limitation Act, 1963. Learned counsel for the Appellant submits that confirmation of account sent by the Corporate Debtor from 01.04.2010 to 31.05.2016 were on the record of the Adjudicating Authority where the debt of ₹ 30,27,622/- was mentioned while confirming the account by the Corporate Debtor. The last confirmation of account being issued on 31.05.2016 for the period 01.04.2016 to 30.05.2016, we are of the view that the Appellant can clearly claim the benefit of Section 18 of the Limitation Act and application having been filed within three years from the last letter of acknowledgment on 31.05.2016 the application was well within time. The Adjudicating Authority has not referred to the acknowledgm ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
