Limitation Period To Reset When Part-Payment Of Debt Is Made By Personal Guarantor U/S 19 Of Limitation Act: NCLT Delhi

The NCLT Delhi ruled that part payment of a debt by a personal guarantor resets the limitation period for filing claims under Section 19 of the Limitation Act. The case involved a creditor seeking to file a claim after the limitation period had expired, but the personal guarantor had made part payments towards the debt. The NCLT ruled that such payments reset the limitation period, allowing the creditor to proceed with the claim. The decision clarified how part payments impact the statutory limitation period, offering guidance on the application of the Limitation Act in insolvency cases.