https://www.taxtmi.com/caselaws?id=283443 A legally assigned financial debt confers locus on the assignee to proceed as a financial creditor under the insolvency code, so the maintainability objection failed. Debt and default were established from the sanction of credit facilities, continued liability, and the respondent's non-dispute of repayment default, so the petition was fit for admission. The limitation objection was also rejected, as the tribunal found the application not time-barred in light of the limitation rules applicable to enforcement of secured debt. The insolvency application was admitted, moratorium followed, and an interim resolution professional was appointed for commencement of the corporate insolvency resolution process. en-us Mon, 15 Oct 2018 00:00:00 +0530 Mon, 23 Sep 2019 16:33:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283443 A legally assigned financial debt confers locus on the assignee to proceed as a financial creditor under the insolvency code, so the maintainability objection failed. Debt and default were established from the sanction of credit facilities, continued liability, and the respondent's non-dispute of repayment default, so the petition was fit for admission. The limitation objection was also rejected, as the tribunal found the application not time-barred in light of the limitation rules applicable to enforcement of secured debt. The insolvency application was admitted, moratorium followed, and an interim resolution professional was appointed for commencement of the corporate insolvency resolution process. Case-Laws Insolvency and Bankruptcy Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283443