https://www.taxtmi.com/caselaws?id=379655 A Section 7 application under the Insolvency and Bankruptcy Code was found complete and maintainable because the record showed default, including recovery proceedings and recovery certificates, and the filing complied with the prescribed form and required particulars. The proposed interim resolution professional had furnished the necessary written communication, and no defect was shown. As the statutory requirements for admission were satisfied and no objection was raised by the corporate debtor, the petition was admitted, moratorium was declared, the interim resolution professional was appointed, the board's powers were suspended, and directions were issued for public announcement, cooperation, and constitution of the committee of creditors. en-us Wed, 13 Feb 2019 00:00:00 +0530 Mon, 06 May 2019 08:28:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379655 A Section 7 application under the Insolvency and Bankruptcy Code was found complete and maintainable because the record showed default, including recovery proceedings and recovery certificates, and the filing complied with the prescribed form and required particulars. The proposed interim resolution professional had furnished the necessary written communication, and no defect was shown. As the statutory requirements for admission were satisfied and no objection was raised by the corporate debtor, the petition was admitted, moratorium was declared, the interim resolution professional was appointed, the board's powers were suspended, and directions were issued for public announcement, cooperation, and constitution of the committee of creditors. Case-Laws Insolvency and Bankruptcy Wed, 13 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379655