https://www.taxtmi.com/caselaws?id=285683 Balance sheets for multiple years, supported by account statements, were treated as evidence of an outstanding liability, while the defence of repayment was rejected for lack of documentary proof. On that basis, the statutory requirements for admission of a financial creditor's section 7 application were found satisfied. The proposed insolvency resolution professional was held eligible for appointment, and consequential directions followed for declaration of moratorium and commencement of the corporate insolvency resolution process. en-us Wed, 06 Nov 2019 00:00:00 +0530 Tue, 21 Jan 2020 20:21:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285683 Balance sheets for multiple years, supported by account statements, were treated as evidence of an outstanding liability, while the defence of repayment was rejected for lack of documentary proof. On that basis, the statutory requirements for admission of a financial creditor's section 7 application were found satisfied. The proposed insolvency resolution professional was held eligible for appointment, and consequential directions followed for declaration of moratorium and commencement of the corporate insolvency resolution process. Case-Laws Insolvency and Bankruptcy Wed, 06 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285683