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SUPREME COURT REITERATES THAT ACKNOWLEDGEMENT OF LIABILITY HAS THE EFFECT OF EXTENDING LIMITATION PERIOD

The #SupremeCourt has in a recent case of Asset Reconstruction Company (India) Limited vs Bishal Jaiswal and Anr. passed a Judgment dated 15-04-2021 and reiterated that #acknowledgement of #liability/#debt has the effect of commencing a fresh period of #limitation under Section 18 of the Limitation Act 1963 and such acknowledgement must be contained in a document addressed to the creditor.


To read more, please visit the link below:


https://theindianlawyer.in/supreme-court-reiterates-that-acknowledgement-of-liability-has-the-effect-of-extending-limitation-period/


#limitation #liability #acknowledge #creditor #debtor #ibc #supremecourt

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