Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
The insolvency admission was upheld because the corporate debtor could not reopen the validity of bank guarantee invocation after the DRT had already found that the guarantees were invoked before expiry and that finding had attained finality. The tribunal also treated the later one time settlement as a formal acknowledgment of the outstanding debt, and the debtor's failure to comply with that settlement constituted default. In view of the admitted sanction of the credit facility, execution of the corporate guarantee and mortgage, and remittance by the bank on invocation, the challenge to admission was untenable and the insolvency application remained valid.
The insolvency admission was upheld because the corporate debtor could not reopen the validity of bank guarantee invocation after the DRT had already found that the guarantees were invoked before expiry and that finding had attained finality. The tribunal also treated the later one time settlement as a formal acknowledgment of the outstanding debt, and the debtor's failure to comply with that settlement constituted default. In view of the admitted sanction of the credit facility, execution of the corporate guarantee and mortgage, and remittance by the bank on invocation, the challenge to admission was untenable and the insolvency application remained valid.
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