https://www.taxtmi.com/caselaws?id=345858 A complete Section 10 application by the corporate debtor, supported by financial statements and particulars of debts and defaults, was found to disclose default to both financial and operational creditors. The Tribunal held that the statutory requirements for a corporate applicant under the Insolvency and Bankruptcy Code were satisfied, including the proposed interim resolution professional's consent and eligibility particulars. In light of the object of the Code and the material showing substantial defaults and erosion of value, the application was admitted and the corporate insolvency resolution process was initiated against the corporate debtor. en-us Mon, 17 Apr 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345858 A complete Section 10 application by the corporate debtor, supported by financial statements and particulars of debts and defaults, was found to disclose default to both financial and operational creditors. The Tribunal held that the statutory requirements for a corporate applicant under the Insolvency and Bankruptcy Code were satisfied, including the proposed interim resolution professional's consent and eligibility particulars. In light of the object of the Code and the material showing substantial defaults and erosion of value, the application was admitted and the corporate insolvency resolution process was initiated against the corporate debtor. Case-Laws Insolvency and Bankruptcy Mon, 17 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345858