https://www.taxtmi.com/caselaws?id=362732 An application for initiation of corporate insolvency under the Insolvency and Bankruptcy Code is admissible when default is evidenced by disbursement records, non-performing asset classification, recall notice and supporting credit data, the prescribed form is complete, and no disciplinary proceeding is pending against the proposed interim resolution professional. A broadly worded power of attorney authorising proceedings before courts and tribunals is sufficient to validate the filing, even if executed before the Code came into force. On these conditions, the insolvency process may proceed with appointment of an interim resolution professional and consequent moratorium. en-us Wed, 16 May 2018 00:00:00 +0530 Mon, 02 Jul 2018 11:03:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362732 An application for initiation of corporate insolvency under the Insolvency and Bankruptcy Code is admissible when default is evidenced by disbursement records, non-performing asset classification, recall notice and supporting credit data, the prescribed form is complete, and no disciplinary proceeding is pending against the proposed interim resolution professional. A broadly worded power of attorney authorising proceedings before courts and tribunals is sufficient to validate the filing, even if executed before the Code came into force. On these conditions, the insolvency process may proceed with appointment of an interim resolution professional and consequent moratorium. Case-Laws Insolvency and Bankruptcy Wed, 16 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362732