https://www.taxtmi.com/caselaws?id=370266 Section 7 of the Insolvency and Bankruptcy Code allows a financial creditor to apply individually or jointly, and inter-se lender arrangements cannot defeat that statutory right. A Section 7 filing must also be properly authorised and complete, including valid consent and disclosures from the proposed interim resolution professional, with no pending disciplinary proceeding. Parallel SARFAESI or DRT recovery actions, disputes over the exact quantum, or claim objections do not by themselves bar admission where default is otherwise established. The text further explains that loan documents, acknowledgments, revival letters, mortgage confirmations and account statements can prove financial debt and default, supporting admission and commencement of corporate insolvency resolution process. en-us Fri, 12 Oct 2018 00:00:00 +0530 Wed, 14 Nov 2018 07:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370266 Section 7 of the Insolvency and Bankruptcy Code allows a financial creditor to apply individually or jointly, and inter-se lender arrangements cannot defeat that statutory right. A Section 7 filing must also be properly authorised and complete, including valid consent and disclosures from the proposed interim resolution professional, with no pending disciplinary proceeding. Parallel SARFAESI or DRT recovery actions, disputes over the exact quantum, or claim objections do not by themselves bar admission where default is otherwise established. The text further explains that loan documents, acknowledgments, revival letters, mortgage confirmations and account statements can prove financial debt and default, supporting admission and commencement of corporate insolvency resolution process. Case-Laws Insolvency and Bankruptcy Fri, 12 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370266