Supreme Court Allows Prabhat Steel Traders IBC Appeal

Supreme Court sets aside NCLAT order, restores insolvency petition against Corporate Debtor for fresh limitation review.
Case centers on whether account confirmation dated 01.04.2017 for Rs 2.05 crore debt extended limitation period.
NCLAT had dismissed Section 9 petition as time-barred, ignoring ledger evidence of partial payments until 30.05.2015.
Supreme Court directs NCLAT to reconsider all evidence including running account and balance confirmation letter.