Initiation of CIRP - Corporate Debtor failed to make repayment ...
Insolvency and Bankruptcy
May 14, 2021
Initiation of CIRP - Corporate Debtor failed to make repayment of its dues - time limitation - the guarantor(s) on 20.02.2018 had executed ‘Balance and Security Confirmation Letters’ in respect of the account of Corporate Debtor in respect of the ‘Term Loan Facility’, which clearly point out that there was an ‘Acknowledgement of Debt’, in terms of Section 18 and 19 of the Limitation Act, 1963. - AT
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