https://www.taxtmi.com/caselaws?id=275243 A signatory was treated as duly authorised where the board authority covered representation before courts, quasi-judicial bodies and related proceedings, and a verification defect was cured by supplementary affidavit. An assignee of a financial creditor was held competent to maintain a section 7 application because an assigned debt falls within the definition of financial creditor. Pendency of SARFAESI, High Court or DRT proceedings did not bar insolvency initiation, as the Code has overriding effect and no winding-up order or official liquidator appointment existed. On proof of financial debt, default and a proper application, the petition was admitted, moratorium commenced, and the interim resolution professional was appointed. en-us Tue, 29 Aug 2017 00:00:00 +0530 Tue, 25 Sep 2018 08:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275243 A signatory was treated as duly authorised where the board authority covered representation before courts, quasi-judicial bodies and related proceedings, and a verification defect was cured by supplementary affidavit. An assignee of a financial creditor was held competent to maintain a section 7 application because an assigned debt falls within the definition of financial creditor. Pendency of SARFAESI, High Court or DRT proceedings did not bar insolvency initiation, as the Code has overriding effect and no winding-up order or official liquidator appointment existed. On proof of financial debt, default and a proper application, the petition was admitted, moratorium commenced, and the interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275243