https://www.taxtmi.com/caselaws?id=377498 An application under Section 7 of the Insolvency and Bankruptcy Code is to be admitted where the financial creditor proves disbursal of financial debt, default, and compliance with the prescribed filing requirements. The note states that loan records, account statements, foreclosure documents, charge documents, and default computation supported the claim, while the corporate debtor did not contest the application. It also records compliance with the proposed Interim Resolution Professional requirements and absence of disciplinary proceedings. On that basis, the insolvency application was admitted, moratorium commenced, Corporate Insolvency Resolution Process was initiated, and the proposed Interim Resolution Professional was appointed. en-us Fri, 28 Sep 2018 00:00:00 +0530 Sat, 30 Mar 2019 08:21:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377498 An application under Section 7 of the Insolvency and Bankruptcy Code is to be admitted where the financial creditor proves disbursal of financial debt, default, and compliance with the prescribed filing requirements. The note states that loan records, account statements, foreclosure documents, charge documents, and default computation supported the claim, while the corporate debtor did not contest the application. It also records compliance with the proposed Interim Resolution Professional requirements and absence of disciplinary proceedings. On that basis, the insolvency application was admitted, moratorium commenced, Corporate Insolvency Resolution Process was initiated, and the proposed Interim Resolution Professional was appointed. Case-Laws Insolvency and Bankruptcy Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377498