https://www.taxtmi.com/caselaws?id=382407 A Section 7 application under the Insolvency and Bankruptcy Code was found maintainable because the corporate debtor did not seriously dispute the debt or default, and the record showed disbursement, partial repayment, and continued non-payment supported by receipts, ledger entries, bank statements, promissory notes, and notices. The prescribed filing requirements and the proposed resolution professional's consent were also in order, so the statutory conditions for admission were satisfied. On admission, the Corporate Insolvency Resolution Process commenced, an Interim Resolution Professional was appointed, public announcement followed, and the statutory moratorium took effect in favour of the financial creditors. en-us Mon, 22 Apr 2019 00:00:00 +0530 Wed, 03 Jul 2019 07:49:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382407 A Section 7 application under the Insolvency and Bankruptcy Code was found maintainable because the corporate debtor did not seriously dispute the debt or default, and the record showed disbursement, partial repayment, and continued non-payment supported by receipts, ledger entries, bank statements, promissory notes, and notices. The prescribed filing requirements and the proposed resolution professional's consent were also in order, so the statutory conditions for admission were satisfied. On admission, the Corporate Insolvency Resolution Process commenced, an Interim Resolution Professional was appointed, public announcement followed, and the statutory moratorium took effect in favour of the financial creditors. Case-Laws Insolvency and Bankruptcy Mon, 22 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382407