https://www.taxtmi.com/caselaws?id=373464 A corporate debtor's own insolvency petition was found complete and admissible because it was filed in the prescribed form with the required affidavit, financial statements, debt particulars, proposed resolution professional's consent, and shareholder approval, and earlier defects had been cured within time. The Tribunal found default and noted the applicant's loss of net worth, with no contest from the secured financial creditor. The application satisfied the statutory conditions for admission, so the corporate insolvency resolution process was commenced and moratorium was declared, barring proceedings, transfer, and enforcement actions during the moratorium period. en-us Wed, 05 Dec 2018 00:00:00 +0530 Mon, 14 Jan 2019 07:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373464 A corporate debtor's own insolvency petition was found complete and admissible because it was filed in the prescribed form with the required affidavit, financial statements, debt particulars, proposed resolution professional's consent, and shareholder approval, and earlier defects had been cured within time. The Tribunal found default and noted the applicant's loss of net worth, with no contest from the secured financial creditor. The application satisfied the statutory conditions for admission, so the corporate insolvency resolution process was commenced and moratorium was declared, barring proceedings, transfer, and enforcement actions during the moratorium period. Case-Laws Insolvency and Bankruptcy Wed, 05 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373464