Balance Sheet Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

Acknowledgment of Balance Sheet under Section 18 of Limitation Act to be counted from date of signing of Balance Sheet: NCLAT

“There is no mandatory requirement for factorising the date of uploading of the balance sheet on the MCA portal for computing the period of limitation.”

Case Briefs High Courts

Karnataka High Court | No suppression of material facts if show cause notice issued is based on balance sheet; Appeal denied

Karnataka High Court: A Division Bench of PS Dinesh and Anant Pamana Hegde, JJ. rejected the appeal filed by Commissioner

Legislation Updates Rules & Regulations

New Delhi International Arbitration Centre (Form of Annual Statement of Accounts) Rules, 2022

The Central Government has notified the New Delhi International Arbitration Centre (Form of Annual Statement of Accounts) Rules, 2022 relating to the

Case Briefs Tribunals/Commissions/Regulatory Bodies

Can SEBI proceed against a Chartered Accountant for lack of his due diligence? SAT analyses

Securities Appellate Tribunal, Mumbai: The Coram of Justice Tarun Agarwala (Presiding Officer) and Justice M.T. Joshi (Judicial Member) while addressing a matter

Case Briefs Supreme Court

Balance sheet entries can amount to an acknowledgement of liability under Section 18 of the Limitation Act, 1963: Supreme Court

Supreme Court: The 3-judge bench of RF Nariman, BR Gavai and Hrishikesh Roy, JJ has held that an entry made in the

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Whether reflection of debt in Balance Sheet of a Corporate Debtor would amount to acknowledgement under S. 18 of Limitation Act? 5-Member Bench decodes Interplay between IBC & Limitation Act; discusses ‘Judicial Indiscipline’

National Company Law Appellate Tribunal (NCLAT), New Delhi: The Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Justice Venugopal M. (Judicial

Case Briefs High Courts

Cal HC | ‘Death sentence’ may or may not deter others; balance sheet of aggravating and mitigating circumstances must be made before its imposition

Calcutta High Court: A Division Bench of Joymalya Bagchi and Suvra Ghosh, JJ. upheld the conviction of the appellants for the commission

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT | Article 137 of Limitation Act not applicable to insolvency application under S.7 IBC where corporate debtor acknowledges debt in its balance sheet

National Company Law Tribunal, Mumbai: The Bench of Bhaskara Pantula Mohan, Member (Judicial) and V. Nallasenapathy, Member (Technical) allowed a petition filed by

Case Briefs High Courts

Acknowledgement of debt in balance sheet, held, extends period of limitation under Section 18 of Limitation Act: Delhi HC

Delhi High Court: A Single Judge Bench comprising of Jayant Nath, J. allowed an application filed by the plaintiff seeking a decree on