https://www.taxtmi.com/caselaws?id=393912 The tribunal found in favor of the financial creditor, ruling that the power of attorney holder had the competence to file the application. The respondent's challenge on default establishment was dismissed as the tribunal determined default based on debt acknowledgment and debt recovery proceedings. The viability argument of the respondent-company was rejected, and the offer for a one-time settlement was not considered a valid defense. The tribunal admitted the petition, declared a moratorium, appointed an interim resolution professional, and directed the continuation of essential services to the corporate debtor. en-us Wed, 15 Jan 2020 00:00:00 +0530 Wed, 06 May 2020 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393912 The tribunal found in favor of the financial creditor, ruling that the power of attorney holder had the competence to file the application. The respondent's challenge on default establishment was dismissed as the tribunal determined default based on debt acknowledgment and debt recovery proceedings. The viability argument of the respondent-company was rejected, and the offer for a one-time settlement was not considered a valid defense. The tribunal admitted the petition, declared a moratorium, appointed an interim resolution professional, and directed the continuation of essential services to the corporate debtor. Case-Laws Insolvency and Bankruptcy Wed, 15 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393912