https://www.taxtmi.com/caselaws?id=390491 A section 7 application under the Insolvency and Bankruptcy Code, 2016 was supported by loan and security documents, a recall notice, and material showing the account as a non-performing asset. The corporate debtor did not dispute the existence of debt and default. On satisfaction that the application was complete and within limitation, the Adjudicating Authority held that admission must follow once debt and default are established, subject to the application being otherwise in order. The petition was admitted, corporate insolvency resolution process was directed to commence, moratorium was declared, and an interim resolution professional was appointed. en-us Thu, 03 Oct 2019 00:00:00 +0530 Sat, 11 Jan 2020 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390491 A section 7 application under the Insolvency and Bankruptcy Code, 2016 was supported by loan and security documents, a recall notice, and material showing the account as a non-performing asset. The corporate debtor did not dispute the existence of debt and default. On satisfaction that the application was complete and within limitation, the Adjudicating Authority held that admission must follow once debt and default are established, subject to the application being otherwise in order. The petition was admitted, corporate insolvency resolution process was directed to commence, moratorium was declared, and an interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Thu, 03 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390491