https://www.taxtmi.com/caselaws?id=386796 Continuing acknowledgment of a secured financial debt, including audited balance sheets and recovery steps, was treated as sufficient to keep the claim alive for insolvency purposes, so the limitation objection was rejected. Pendency of SARFAESI and DRT proceedings did not bar recourse to the Code, and the assignment of debt remained effective so the applicant could proceed as a financial creditor despite the alleged advisory-services arrangement. Subsisting default, supported by NPA classification, certified account statements and pending recovery action, satisfied the admission requirements, and the application was admitted with CIRP initiated, moratorium imposed and an interim resolution professional appointed. en-us Mon, 29 Jul 2019 00:00:00 +0530 Tue, 08 Oct 2019 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386796 Continuing acknowledgment of a secured financial debt, including audited balance sheets and recovery steps, was treated as sufficient to keep the claim alive for insolvency purposes, so the limitation objection was rejected. Pendency of SARFAESI and DRT proceedings did not bar recourse to the Code, and the assignment of debt remained effective so the applicant could proceed as a financial creditor despite the alleged advisory-services arrangement. Subsisting default, supported by NPA classification, certified account statements and pending recovery action, satisfied the admission requirements, and the application was admitted with CIRP initiated, moratorium imposed and an interim resolution professional appointed. Case-Laws Insolvency and Bankruptcy Mon, 29 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386796