https://www.taxtmi.com/caselaws?id=392879 Section 7 of the Insolvency and Bankruptcy Code was treated as maintainable where documentary evidence established the debt, default, and the account's non-performing asset status, and the proposed interim resolution professional had given valid consent in the prescribed form. The statutory conditions for admission under Section 7(5)(a) were found satisfied because the application was complete and no disciplinary proceeding was pending against the proposed interim resolution professional. Objections based on MSME status, interest subvention, and consortium arrangements did not negate the proven default or prevent initiation of the insolvency process, and the Corporate Insolvency Resolution Process was commenced. en-us Wed, 16 Oct 2019 00:00:00 +0530 Mon, 02 Mar 2020 11:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392879 Section 7 of the Insolvency and Bankruptcy Code was treated as maintainable where documentary evidence established the debt, default, and the account's non-performing asset status, and the proposed interim resolution professional had given valid consent in the prescribed form. The statutory conditions for admission under Section 7(5)(a) were found satisfied because the application was complete and no disciplinary proceeding was pending against the proposed interim resolution professional. Objections based on MSME status, interest subvention, and consortium arrangements did not negate the proven default or prevent initiation of the insolvency process, and the Corporate Insolvency Resolution Process was commenced. Case-Laws Insolvency and Bankruptcy Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392879