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ARTICLE · 26 AUGUST 2020

Between The Lines - August 2020

Vaish Associates Advocates
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NCLAT: A writing to be an acknowledgement of liability must involve an admission of subsisting jural relationship

IndiaFinance and Banking
Vaish Associates Advocates
Vaish Associates Advocates
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Key Highlights

  1. Supreme Court: Dispute as to inheritance of shares cannot be adjudicated upon in proceedings under Section 241/242 of Companies Act, 2013
  2. NCLAT: A writing to be an acknowledgement of liability must involve an admission of subsisting jural relationship between the parties and a conscious affirmation of an intention of continuing such relationship in regard to an existing liability
  3. Supreme Court: The appellant's plea on limitation was illusory; the date of execution of sale deed was deliberately excluded to overcome limitation and mislead the court.
  4. NCLAT: The occurrence of a default, and not the inability to pay debt is relevant for admitting or rejecting an application for initiation of CIRP under the IBC

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