https://www.taxtmi.com/caselaws?id=393985 A section 7 application under the Insolvency and Bankruptcy Code was found maintainable because the record contained authority for the signatory, and acknowledgments of liability dated 31 March 2015 and 13 February 2018 saved limitation even if the default date was taken as 29 November 2014. The Bench then held that the loan documents, security papers, CRILC report, restructuring record, and later acknowledgments established financial debt and default above the statutory threshold. As the requirements of section 7(5) were satisfied, the petition was admitted, moratorium was imposed, and an interim resolution professional was appointed. en-us Thu, 02 Jan 2020 00:00:00 +0530 Fri, 27 Mar 2020 10:00:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393985 A section 7 application under the Insolvency and Bankruptcy Code was found maintainable because the record contained authority for the signatory, and acknowledgments of liability dated 31 March 2015 and 13 February 2018 saved limitation even if the default date was taken as 29 November 2014. The Bench then held that the loan documents, security papers, CRILC report, restructuring record, and later acknowledgments established financial debt and default above the statutory threshold. As the requirements of section 7(5) were satisfied, the petition was admitted, moratorium was imposed, and an interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Thu, 02 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393985