https://www.taxtmi.com/caselaws?id=388045 A section 7 Insolvency and Bankruptcy Code application was found maintainable where the financial creditor produced loan documents, credit facility revisions, an assignment deed, acknowledgments of liability, revival letters, and a one-time settlement proposal. The Bench treated the corporate debtor's continuing correspondence and conduct as evidence of subsisting liability, and also noted that the account had been classified as a non-performing asset. On that material, financial debt and default were held proved, the claim was treated as within limitation, and the application was admitted, triggering insolvency resolution, moratorium, and appointment of an interim resolution professional. en-us Thu, 29 Aug 2019 00:00:00 +0530 Thu, 07 Nov 2019 06:11:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388045 A section 7 Insolvency and Bankruptcy Code application was found maintainable where the financial creditor produced loan documents, credit facility revisions, an assignment deed, acknowledgments of liability, revival letters, and a one-time settlement proposal. The Bench treated the corporate debtor's continuing correspondence and conduct as evidence of subsisting liability, and also noted that the account had been classified as a non-performing asset. On that material, financial debt and default were held proved, the claim was treated as within limitation, and the application was admitted, triggering insolvency resolution, moratorium, and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Thu, 29 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388045