https://www.taxtmi.com/caselaws?id=281620 A Section 7 Insolvency and Bankruptcy Code application based on assigned debt was found maintainable because the signatory was authorised by board resolution and the petition was in the prescribed form. The Tribunal held that financial debt and default were established from the credit facilities, enhancement and rephasing, assignment, and non-payment records; pending SARFAESI and DRT proceedings did not bar insolvency action, and objections on accounts, res judicata, and document defects did not displace default. On admission, the Tribunal triggered moratorium, public announcement, continuation of essential supplies, and appointment of an interim resolution professional. en-us Thu, 09 Aug 2018 00:00:00 +0530 Fri, 28 Jun 2019 10:25:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281620 A Section 7 Insolvency and Bankruptcy Code application based on assigned debt was found maintainable because the signatory was authorised by board resolution and the petition was in the prescribed form. The Tribunal held that financial debt and default were established from the credit facilities, enhancement and rephasing, assignment, and non-payment records; pending SARFAESI and DRT proceedings did not bar insolvency action, and objections on accounts, res judicata, and document defects did not displace default. On admission, the Tribunal triggered moratorium, public announcement, continuation of essential supplies, and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Thu, 09 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281620