Supreme Court of India
Vidyasagar Prasad v. Uco Bank & Anr.
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In view of the above referred principles, we will now consider the nuanced arguments advanced by Mr.
Judgment, page 9
From the headnote
Issue for Consideration Whether specific and clear acknowledgement of debt by the Corporate Debtor in its balance sheet is necessary while considering limitation under Section 18 of the Limitation Act, 1963. Headnotes† Insolvency and Bankruptcy Code, 2016 – s.238A – s.18 of Limitation Act – No specific and clear acknowledge of debt in the balance sheet entries necessary while computing limitation u/s.18 Limitation Act r/w s.238A of the IBC: Held: It was contended by the Appellant that there is no unequivocal, unambiguous and specific acknowledgement of debt owed to Respondent – Financial
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