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Matter about entries in balance sheet amount to acknowledgement of debt for limitation period referred to larger bench

January 27, 2021[2021] 123 390 (NCL-AT)

IBC : Where there was consistent view of Hon'ble Supreme Court and various High Courts that entries in various Balance Sheet of Company be treated as an acknowledgement of debt for purpose of Section 18 of Limitation Act, 1963, decision of appellate Tribunal in V. Padmakumar v. Stressed Assets Stabilization Fund (SASF) [2021] 123 331 ((NCL - AT) wherein it was held that entries made in balance sheet cannot amount to an acknowledgement of debt for purpose of Limitation Act, 1963, required reconsideration

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