Specific Pleadings U/S 9 Of IBC Regarding Part Payments, Supported By Written Acknowledgment Resets Limitation Period: NCLAT

The NCLAT has ruled that "specific pleadings" under "Section 9 of the IBC" regarding "part payments" supported by a "written acknowledgment" "reset the limitation period under Section 19 of the Limitation Act." The court's decision, which is a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a company can be held responsible for the misdeeds of another person. The court's decision is a crucial reminder to all that they must be diligent in their dealings.