https://www.taxtmi.com/caselaws?id=281105 Financial debt and default were found established on the documentary record, including loan papers, assignment deeds, account particulars and prior recovery steps, showing that the corporate debtor had availed financial facilities and failed to repay them. The Tribunal also treated the limitation objection as unsuccessful, relying on the mortgage-backed nature of the claim and Article 62 of the Limitation Act, 1963. On that basis, the section 7 requirements under the Insolvency and Bankruptcy Code, 2016 were satisfied, and the petition was admitted, triggering the corporate insolvency resolution process, appointment of an interim resolution professional and moratorium. en-us Fri, 26 Oct 2018 00:00:00 +0530 Mon, 03 Jun 2019 20:13:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281105 Financial debt and default were found established on the documentary record, including loan papers, assignment deeds, account particulars and prior recovery steps, showing that the corporate debtor had availed financial facilities and failed to repay them. The Tribunal also treated the limitation objection as unsuccessful, relying on the mortgage-backed nature of the claim and Article 62 of the Limitation Act, 1963. On that basis, the section 7 requirements under the Insolvency and Bankruptcy Code, 2016 were satisfied, and the petition was admitted, triggering the corporate insolvency resolution process, appointment of an interim resolution professional and moratorium. Case-Laws Insolvency and Bankruptcy Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281105