https://www.taxtmi.com/caselaws?id=346240 In a Section 7 insolvency proceeding, complete applications supported by documentary evidence and an undisputed default were treated as maintainable, and the signatory objection failed because authorised bank officers could sign on the lender's behalf under applicable regulations. Section 7(5)(a) was read as conferring judicial discretion, but pending debt restructuring was not treated as a bar to admission where default was otherwise established. On admission, the Interim Resolution Professional proposed by the lenders could be appointed and the statutory consequences followed, including moratorium, public announcement, and invitation of claims. en-us Wed, 02 Aug 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346240 In a Section 7 insolvency proceeding, complete applications supported by documentary evidence and an undisputed default were treated as maintainable, and the signatory objection failed because authorised bank officers could sign on the lender's behalf under applicable regulations. Section 7(5)(a) was read as conferring judicial discretion, but pending debt restructuring was not treated as a bar to admission where default was otherwise established. On admission, the Interim Resolution Professional proposed by the lenders could be appointed and the statutory consequences followed, including moratorium, public announcement, and invitation of claims. Case-Laws Insolvency and Bankruptcy Wed, 02 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346240