https://www.taxtmi.com/caselaws?id=394247 A Section 7 application under the Insolvency and Bankruptcy Code was found complete and maintainable because financial debt, default, and limitation were supported by loan documents, account statements, balance-sheet disclosures, and other record material. The Tribunal accepted the default date as 29-6-2012, treated the petition as within limitation in light of the last payment and surrounding evidence, and held that pending SARFAESI or DRT proceedings did not bar insolvency proceedings. The petition was admitted, the corporate debtor was held in default of a financial debt, and corporate insolvency resolution process was directed to commence with moratorium and appointment of an interim resolution professional. en-us Mon, 13 Jan 2020 00:00:00 +0530 Mon, 06 Apr 2020 12:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394247 A Section 7 application under the Insolvency and Bankruptcy Code was found complete and maintainable because financial debt, default, and limitation were supported by loan documents, account statements, balance-sheet disclosures, and other record material. The Tribunal accepted the default date as 29-6-2012, treated the petition as within limitation in light of the last payment and surrounding evidence, and held that pending SARFAESI or DRT proceedings did not bar insolvency proceedings. The petition was admitted, the corporate debtor was held in default of a financial debt, and corporate insolvency resolution process was directed to commence with moratorium and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Mon, 13 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394247