https://www.taxtmi.com/caselaws?id=281621 Pending proceedings under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 did not bar admission of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. Once the moratorium under Section 14 of the Code commenced, the recovery proceedings could not continue. The appellant also failed to substantiate the plea that no debt or default existed, as no clear affidavit supported that contention and the loan taken by the corporate debtor was acknowledged. The admission of the insolvency application was therefore not liable to be interfered with. en-us Mon, 17 Sep 2018 00:00:00 +0530 Fri, 28 Jun 2019 10:25:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281621 Pending proceedings under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 did not bar admission of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. Once the moratorium under Section 14 of the Code commenced, the recovery proceedings could not continue. The appellant also failed to substantiate the plea that no debt or default existed, as no clear affidavit supported that contention and the loan taken by the corporate debtor was acknowledged. The admission of the insolvency application was therefore not liable to be interfered with. Case-Laws Insolvency and Bankruptcy Mon, 17 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281621