Adjudicating Authority admits Section 7 Application despite Section 10A challenge. Default date predates Section 10A period.

The Adjudicating Authority admitted the Section 7 Application based on proof of debt and default provided by the Financial Creditor, with the default date recorded prior to the Section 10A period. The Appellant's challenge that the application was barred by Section 10A was rejected, as the default date predated the Section 10A period. The Adjudicating Authority found no error in admitting the application, dismissing the appeal for lack of merit.

---

---

Issues involved:
The appeal against the order admitting Section 7 Application filed by the Respondent, challenge of the application being barred by Section 10A, consideration of default dates, and the argument of restructuring indicating default post Section 10A period.

Admission of Section 7 Application:
The Adjudicating Authority admitted the Section 7 Application based on the proof of debt and default provided by the Financial Creditor, including the default date recorded in NESL. The default date being prior to Section 10A period, any default during Section 10A period cannot bar the application. The appointment of a proposed IRP was also found to meet legal requirements for admission.

Challenge of Section 10A Bar:
The Appellant argued that the application was barred by Section 10A, which was rejected by the Adjudicating Authority. The restructuring permitted on 17.08.2020 indicated a default post Section 10A period, but the Application detailed a default date of 31.01.2020, showing the default occurred before the Section 10A period. The Adjudicating Authority found no error in admitting the Section 7 Application, dismissing the appeal for lack of merit.

---