https://www.taxtmi.com/caselaws?id=278657 An application under section 7 of the Insolvency and Bankruptcy Code was found complete because it was supported by loan and security documents, account statements, a certificate of charge, bankers' certificates and the proposed interim resolution professional's consent. The objection that the filing was unauthorised was rejected on the basis of the power of attorney and authority letter. Default was established from the restructuring of facilities, subsequent account irregularities, NPA classification and outstanding financial debt. Pendency before the Debt Recovery Tribunal and the borrower's objections did not displace the material showing default, and the statutory requirements for admission were satisfied, so the corporate insolvency resolution process was initiated. en-us Tue, 12 Sep 2017 00:00:00 +0530 Sat, 16 Feb 2019 06:27:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278657 An application under section 7 of the Insolvency and Bankruptcy Code was found complete because it was supported by loan and security documents, account statements, a certificate of charge, bankers' certificates and the proposed interim resolution professional's consent. The objection that the filing was unauthorised was rejected on the basis of the power of attorney and authority letter. Default was established from the restructuring of facilities, subsequent account irregularities, NPA classification and outstanding financial debt. Pendency before the Debt Recovery Tribunal and the borrower's objections did not displace the material showing default, and the statutory requirements for admission were satisfied, so the corporate insolvency resolution process was initiated. Case-Laws Insolvency and Bankruptcy Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278657