https://www.taxtmi.com/caselaws?id=380190 Admission under section 7 of the Insolvency and Bankruptcy Code depends on proof of financial debt, default, a complete application, and the absence of pending disciplinary proceedings against the proposed interim resolution professional. The record here showed that the debt remained unpaid, the account was classified as a non-performing asset, and the application was otherwise complete. On that basis, the statutory requirements for initiation of corporate insolvency resolution were met, leading to commencement of the process, moratorium, and appointment of the interim resolution professional. en-us Mon, 22 Apr 2019 00:00:00 +0530 Mon, 11 Nov 2024 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380190 Admission under section 7 of the Insolvency and Bankruptcy Code depends on proof of financial debt, default, a complete application, and the absence of pending disciplinary proceedings against the proposed interim resolution professional. The record here showed that the debt remained unpaid, the account was classified as a non-performing asset, and the application was otherwise complete. On that basis, the statutory requirements for initiation of corporate insolvency resolution were met, leading to commencement of the process, moratorium, and appointment of the interim resolution professional. Case-Laws IBC Mon, 22 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380190