https://www.taxtmi.com/caselaws?id=379661 A Section 7 IBC application is admitted when the financial creditor shows financial debt, default, a complete , and no pending disciplinary proceeding against the proposed interim resolution professional. The adjudicating authority is not required to examine challenges to NPA classification or disputes over the precise quantum of liability at the admission stage. On the record, the bank was treated as a financial creditor, the loan transactions were found to constitute financial debt, default was established, and the application was complete, so corporate insolvency resolution process was initiated against the corporate debtor. en-us Mon, 25 Mar 2019 00:00:00 +0530 Mon, 06 May 2019 08:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379661 A Section 7 IBC application is admitted when the financial creditor shows financial debt, default, a complete , and no pending disciplinary proceeding against the proposed interim resolution professional. The adjudicating authority is not required to examine challenges to NPA classification or disputes over the precise quantum of liability at the admission stage. On the record, the bank was treated as a financial creditor, the loan transactions were found to constitute financial debt, default was established, and the application was complete, so corporate insolvency resolution process was initiated against the corporate debtor. Case-Laws Insolvency and Bankruptcy Mon, 25 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379661