In Brief
Wizaman Impex, a pharmaceutical distributor, filed an insolvency application against Kedrion Biopharma for unpaid invoices. The National Company Law Tribunal rejected the application as time-barred under the Limitation Act. The Appellate Tribunal reversed this, admitting new email evidence showing the debtor acknowledged liability. The Supreme Court allowed the corporate debtor's appeal partly, holding that while the new documents are relevant, the Appellate Tribunal improperly considered them without giving the debtor a fair hearing. The Court set aside the Appellate Tribunal's decision on admission and remitted the case for fresh adjudication by the lower tribunal with full opportunity for both parties.
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