The case involves an appeal against an order where the application filed by the Operational Creditor was considered barred by time. The invoices were raised between March 17, 2015, and February 6, 2016, and the application was filed in August 2020. The Adjudicating Authority relied on audited annual financial statements from 2016-2017 to 2021-2022. The appellant argues that the balance sheet did not contain any acknowledgment within the meaning of Section 18 of the Limitation Act, 1963, and that the mention of sundry creditors cannot be considered an acknowledgment.
Pramod Chainsing Rajput filed an appeal against Unique Sugars Ltd. & Anr. The appeal concerns an application filed by an Operational Creditor that was allegedly barred by limitation. Invoices were issued between March 17, 2015, and February 6, 2016, and the application was filed in August 2020. The Adjudicating Authority considered audited financial statements from 2016-2017 to 2021-2022. The appellant contends that the balance sheet lacks acknowledgment of debt under Section 18 of the Limitation Act, 1963, and the mention of sundry creditors does not constitute valid acknowledgment. The relevance of these facts lies in determining whether the debt claim is enforceable given the limitation period and the nature of acknowledgment, if any.
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The case involves an appeal against an order where the application filed by the Operational Creditor was considered barred by time. The invoices were raised between March 17, 2015, and February 6, 2016, and the application was filed in August 2020. The Adjudicating Authority relied on audited annual financial statements from 2016-2017 to 2021-2022. The appellant argues that the balance sheet did not contain any acknowledgment within the meaning of Section 18 of the Limitation Act, 1963, and that the mention of sundry creditors cannot be considered an acknowledgment.
Pramod Chainsing Rajput filed an appeal against Unique Sugars Ltd. & Anr. The appeal concerns an application filed by an Operational Creditor that was allegedly barred by limitation. Invoices were issued between March 17, 2015, and February 6, 2016, and the application was filed in August 2020. The Adjudicating Authority considered audited financial statements from 2016-2017 to 2021-2022. The appellant contends that the balance sheet lacks acknowledgment of debt under Section 18 of the Limitation Act, 1963, and the mention of sundry creditors does not constitute valid acknowledgment. The relevance of these facts lies in determining whether the debt claim is enforceable given the limitation period and the nature of acknowledgment, if any.
One of the invo…
Another invoi…
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