https://www.taxtmi.com/caselaws?id=379600 An application under Section 7 of the Insolvency and Bankruptcy Code is maintainable where the financial creditor cures any initial authorisation defect by later board ratification and a fresh authority letter, establishes default through loan records and recall documentation, and shows that the application is otherwise complete. The proposed Interim Resolution Professional must also file the prescribed declaration confirming that no disciplinary proceedings are pending. On these findings, the petition was admitted, the corporate insolvency resolution process commenced, moratorium was imposed, and the Interim Resolution Professional was appointed in accordance with the Code and insolvency regulations. en-us Wed, 20 Feb 2019 00:00:00 +0530 Mon, 06 May 2019 05:46:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379600 An application under Section 7 of the Insolvency and Bankruptcy Code is maintainable where the financial creditor cures any initial authorisation defect by later board ratification and a fresh authority letter, establishes default through loan records and recall documentation, and shows that the application is otherwise complete. The proposed Interim Resolution Professional must also file the prescribed declaration confirming that no disciplinary proceedings are pending. On these findings, the petition was admitted, the corporate insolvency resolution process commenced, moratorium was imposed, and the Interim Resolution Professional was appointed in accordance with the Code and insolvency regulations. Case-Laws Insolvency and Bankruptcy Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379600