https://www.taxtmi.com/caselaws?id=374150 A section 7 insolvency petition was admitted on the basis that the financial creditor produced credible documentary evidence of financial debt and default, including loan records, balance confirmations, revival letters and account statements. The corporate debtor admitted borrowing but disputed only the quantum, which did not displace the finding of default. The limitation objection was rejected because renewal of facilities, acknowledgments and a subsequent payment showed a continuing liability and kept the claim within time. The Tribunal accordingly found default, admitted the petition, declared moratorium and appointed an interim resolution professional. en-us Mon, 10 Dec 2018 00:00:00 +0530 Mon, 27 May 2019 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374150 A section 7 insolvency petition was admitted on the basis that the financial creditor produced credible documentary evidence of financial debt and default, including loan records, balance confirmations, revival letters and account statements. The corporate debtor admitted borrowing but disputed only the quantum, which did not displace the finding of default. The limitation objection was rejected because renewal of facilities, acknowledgments and a subsequent payment showed a continuing liability and kept the claim within time. The Tribunal accordingly found default, admitted the petition, declared moratorium and appointed an interim resolution professional. Case-Laws Insolvency and Bankruptcy Mon, 10 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374150