https://www.taxtmi.com/caselaws?id=279549 An admitted unsecured loan reflected in the corporate debtor's accounts as long-term borrowing may constitute a financial debt under the Insolvency and Bankruptcy Code, even if no interest is stipulated, because the statutory definition includes debt with interest, if any. The note further states that where liability and default are established on the material before the Tribunal, the requirements for admission of a section 7 petition are satisfied, leading to commencement of CIRP with moratorium and appointment of an interim resolution professional. en-us Fri, 31 Aug 2018 00:00:00 +0530 Mon, 25 Mar 2019 06:43:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279549 An admitted unsecured loan reflected in the corporate debtor's accounts as long-term borrowing may constitute a financial debt under the Insolvency and Bankruptcy Code, even if no interest is stipulated, because the statutory definition includes debt with interest, if any. The note further states that where liability and default are established on the material before the Tribunal, the requirements for admission of a section 7 petition are satisfied, leading to commencement of CIRP with moratorium and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279549