https://www.taxtmi.com/caselaws?id=364432 An application under section 7 of the Insolvency and Bankruptcy Code was admitted where the petition was complete, default was shown, the corporate debtor's account had been classified as NPA, and no disciplinary proceedings were pending against the proposed resolution professional. The Tribunal held that the authorised signatory had proper authority and that the statement of accounts was supported by a certificate under the Bankers' Books Evidence Act, curing admissibility objections. It further found that the loan documents, charge creation and related consents established the corporate debtor's liability and that objections on disbursement or co-borrower status did not defeat default. The insolvency application was admitted, an interim resolution professional was appointed, and moratorium was declared. en-us Wed, 13 Jun 2018 00:00:00 +0530 Sun, 29 Jul 2018 13:25:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364432 An application under section 7 of the Insolvency and Bankruptcy Code was admitted where the petition was complete, default was shown, the corporate debtor's account had been classified as NPA, and no disciplinary proceedings were pending against the proposed resolution professional. The Tribunal held that the authorised signatory had proper authority and that the statement of accounts was supported by a certificate under the Bankers' Books Evidence Act, curing admissibility objections. It further found that the loan documents, charge creation and related consents established the corporate debtor's liability and that objections on disbursement or co-borrower status did not defeat default. The insolvency application was admitted, an interim resolution professional was appointed, and moratorium was declared. Case-Laws Insolvency and Bankruptcy Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364432