Debt Acknowledged After Expiry of Limitation Period Cannot Initiate the Proceedings Under CIRP: NCLAT
The appellant filed the appeal against the order dated 11th December 2019 passed by National Company Law Tribunal (NCLT), Chennai wherein the adjudicating authority accepted the Insolvency Application u/s 7 of IBC. The appellant here was C.R. Badrinath, and the respondents were Eight Capital India (M) Ltd. and M/s Wellknit