TMI Blog2024 (4) TMI 566X X X X Extracts X X X X X X X X Extracts X X X X ..... irst default arose on 30 April 2014, the petition under Section 7 is not barred by limitation in view of the subsequent events including the acknowledgements in the balance sheets and the recovery certificate. The NCLAT while affirming the order of the NCLT allowing the amendment has specifically kept the question of limitation open. In that sense, the plea of the appellant that the petition under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Prakash, Adv. Mrs. Shubhra Kapur, Adv. Ms. Mahima Kapur, Adv. Ms. Divya Singh Pundir, Adv. ORDER 1. In the earlier order of this Court dated 16 January 2024, while recording the submissions of the appellant, the second date in paragraph 2 is corrected to 29 December 2021 instead and in place of 1 February 2022. This correction is made on the basis that the lodgment as recorded in the website of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icant has made a categoric statement that the petition has been filed within the period of limitation inasmuch as that the balance sheets of the corporate debtor and the income tax returns contain an acknowledgement of debt and a promise to pay. Despite this categoric stand of the corporate debtor, the income tax returns have not been disclosed. There is also no statement in the written objection ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itation in view of the subsequent events including the acknowledgements in the balance sheets and the recovery certificate. 4. The NCLAT while affirming the order of the NCLT allowing the amendment has specifically kept the question of limitation open. In that sense, the plea of the appellant that the petition under Section 7 of the IBC is barred by limitation is not prejudiced. 5. Bearing in mind ..... X X X X Extracts X X X X X X X X Extracts X X X X
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