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NCLT admits CIRP as date of acknowledgement of debt by corporate debtor was well within limitation period

May 10, 2019[2019] 106 28 (NCLT- Chennai )

IBC: Where despite receipt of demand notice under section 8, no reply was given by corporate debtor, application to initiate CIRP against corporate debtor was to be admitted

IBC: Where last date of acknowledgement of debt by corporate debtor was 26-3-2018, instant application filed in 2019 was within limitation period and thus, same was to be admitted

IBC: Section 61 of Sale of Goods Act is not inconsistent with any of provisions of I&B code, indeed it is supplementary to I&B code to award interest to operational creditor because such clause is not present in I&B code

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