https://www.taxtmi.com/caselaws?id=354512 A Section 7 insolvency application was described as maintainable where the financial creditor was duly authorised by authority letter and general power of attorney to initiate insolvency and recovery proceedings. The application was treated as complete because it was filed in the prescribed form, the proposed interim resolution professional furnished the required written communication, and documentary material such as balance confirmations, bank statements, recall notice and demand notice supported default. On that basis, the petition was admitted and moratorium under the Insolvency and Bankruptcy Code was directed to operate against suits, transfers and enforcement actions, subject to protection of essential supplies. en-us Mon, 11 Dec 2017 00:00:00 +0530 Tue, 30 Jan 2018 11:43:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354512 A Section 7 insolvency application was described as maintainable where the financial creditor was duly authorised by authority letter and general power of attorney to initiate insolvency and recovery proceedings. The application was treated as complete because it was filed in the prescribed form, the proposed interim resolution professional furnished the required written communication, and documentary material such as balance confirmations, bank statements, recall notice and demand notice supported default. On that basis, the petition was admitted and moratorium under the Insolvency and Bankruptcy Code was directed to operate against suits, transfers and enforcement actions, subject to protection of essential supplies. Case-Laws Insolvency and Bankruptcy Mon, 11 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354512