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Part Payment by Corporate Debtor Extends Limitation Period for Filing Insolvency Application: NCLAT [Read Order]

The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) at New Delhi recently ruled that a part payment made by the corporate debtor to the operational creditor against the total debt constitutes an acknowledgment of debt under the Limitation Act, 1963, thereby extending the limitation period for filing an insolvency application under the…