https://www.taxtmi.com/caselaws?id=386889 A financial creditor established default where the loan facility had been sanctioned and disbursed, the debt remained unpaid despite repeated demands, and the record showed subsisting default. The application also satisfied the procedural requirements for admission under the Insolvency Code because it was filed in the prescribed form with the requisite fee, was within limitation, and no disciplinary proceeding was pending against the proposed insolvency resolution professional. The Adjudicating Authority therefore held the application maintainable, admitted it, and ordered moratorium to operate in accordance with the Insolvency Code after substitution of the proposed resolution professional. en-us Wed, 19 Jun 2019 00:00:00 +0530 Fri, 11 Oct 2019 11:38:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386889 A financial creditor established default where the loan facility had been sanctioned and disbursed, the debt remained unpaid despite repeated demands, and the record showed subsisting default. The application also satisfied the procedural requirements for admission under the Insolvency Code because it was filed in the prescribed form with the requisite fee, was within limitation, and no disciplinary proceeding was pending against the proposed insolvency resolution professional. The Adjudicating Authority therefore held the application maintainable, admitted it, and ordered moratorium to operate in accordance with the Insolvency Code after substitution of the proposed resolution professional. Case-Laws Insolvency and Bankruptcy Wed, 19 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386889