https://www.taxtmi.com/caselaws?id=373465 A loan advanced under a loan agreement with interest was treated as a financial debt, making the applicant a financial creditor for a Section 7 insolvency petition. The objections on exact default quantum, CIBIL record, links to other transactions, pending winding-up proceedings concerning the project company, and pledged debentures did not rebut the record of disbursement, recall, and non-payment. The recall notice and supporting documents established the date of default and showed failure to repay the admitted liability. The application was found complete, no disciplinary bar was shown against the proposed interim resolution professional, and the petition was admitted. en-us Thu, 06 Dec 2018 00:00:00 +0530 Mon, 14 Jan 2019 07:33:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373465 A loan advanced under a loan agreement with interest was treated as a financial debt, making the applicant a financial creditor for a Section 7 insolvency petition. The objections on exact default quantum, CIBIL record, links to other transactions, pending winding-up proceedings concerning the project company, and pledged debentures did not rebut the record of disbursement, recall, and non-payment. The recall notice and supporting documents established the date of default and showed failure to repay the admitted liability. The application was found complete, no disciplinary bar was shown against the proposed interim resolution professional, and the petition was admitted. Case-Laws Insolvency and Bankruptcy Thu, 06 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373465