https://www.taxtmi.com/caselaws?id=383880 In a Section 7 insolvency application, proof of default above the statutory threshold was sufficient for admission, and a dispute only over the quantum of debt did not defeat the proceeding. The record showed default, classification of the account as non-performing, and prior SARFAESI measures, while the appellant raised no effective challenge beyond the outstanding amount. An objection that the application was filed by a bank officer also failed because no material showed lack of authority. The appeal was dismissed and the admission order was maintained. en-us Fri, 31 May 2019 00:00:00 +0530 Fri, 02 Aug 2019 06:24:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383880 In a Section 7 insolvency application, proof of default above the statutory threshold was sufficient for admission, and a dispute only over the quantum of debt did not defeat the proceeding. The record showed default, classification of the account as non-performing, and prior SARFAESI measures, while the appellant raised no effective challenge beyond the outstanding amount. An objection that the application was filed by a bank officer also failed because no material showed lack of authority. The appeal was dismissed and the admission order was maintained. Case-Laws Insolvency and Bankruptcy Fri, 31 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383880