TMI Blog2022 (5) TMI 1048X X X X Extracts X X X X X X X X Extracts X X X X ..... s the case where there is acknowledgment within the meaning of Section 18 hence the Limitation got extended hence the Application filed on 06.12.2019 was well within time. No other argument is raised - there are no merit in the appeal - appeal dismissed. - Company Appeal (AT) (Ins.) No. 557 of 2022 - - - Dated:- 20-5-2022 - [Justice Ashok Bhushan] Chairperson , [Ms. Shreesha Merla] Member (Technical) And [Mr. Naresh Salecha] Member (Technical) For the Appellant : Mr. Alok Dhir, Ms. Varsha Banerjee and Udita Singh, Advocates For the Respondent : Advocate Apoorv Agarwal for RP. Mr. Atul Sharma, Mr. Abhishek Sharma, Ashly Cherian, Mr. Gaurav Arora, Mr. Kamlendra Pratap Singh, Advocates for R-2. ORDER (Virtual Mode) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ating Authority after hearing the parties took the view that the Corporate Debtor having made the payment even upto the year 2019, the Application is not barred by time. 4. In paragraph 15, the Adjudicating Authority noticed that Corporate Debtor has made payment lastly as on 02.09.2019 which was continued since 05.11.2018. The Adjudicating Authority held that in view of the last payment having been made on 02.09.2019 application filed on 06.12.2019 is not barred by time. Aggrieved by the Order, Appellant has come up in this Appeal. 5. Mr. Alok Dhir, Learned Counsel appearing for the Appellant challenging the Order pressed two submissions. He submits that the Adjudicating Authority ought not to have looked into the materials brought i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... page 66, Volume II. The Application under Section 7 of the Code itself contains the Customer Account Ledger Report from 31.12.2010 to 04.11.2019 which is part of Section 7 Application. When we look into Page 134 and 135 of the Appeal Paper Book it is clear that all payments made by the Corporate Debtor are duly reflected in the aforesaid ledger report. Last payment of Rs. 1 Crore was made on 02.09.2019 which is also credited in the Ledger Account. Thus, there were materials also brought on record along with the Section 7 Application to prove that payments were made by the Corporate Debtor upto 02.09.2019. 8. On a pointed query to Learned Counsel for the Appellant regarding payments, he does not deny that they have made part-payment as r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d therefore present is not a case of deficient pleading. 11. Coming to the Judgment of Hon ble Supreme Court in Babulal Vardharji Gurjar Vs. Veer Gurjar Aluminium Industries Pvt. Ltd. Anr. (Civil Appeal No. 6347 of 2019) where Learned Counsel for the Appellant has relied on Paragraph 33 which is to the following effect: 33. Apart from the above and even if it be assumed that the principles relating to acknowledgement as per Section 18 of the Limitation Act are applicable for extension of time for the purpose of the application under Section 7 of the Code, in our view, neither the said provision and principles come in operation in the present case nor they enure to the benefit of respondent No. 2 for the fundamental reason that i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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