https://www.taxtmi.com/caselaws?id=394794 A section 7 insolvency application under the Insolvency and Bankruptcy Code was found maintainable on documentary proof of financial debt and default, supported by loan, security and account records. The Tribunal held that default was established from 30/09/2015, the claim met the statutory threshold, and the filing was within limitation on the basis of the last payment dated 26/02/2016. Service on the corporate debtor was completed, the petition was procedurally complete, and pending SARFAESI and DRT proceedings did not bar initiation of corporate insolvency resolution process. The application was admitted and CIRP was directed to commence, with the proposed insolvency professional appointed as interim resolution professional. en-us Mon, 13 Jan 2020 00:00:00 +0530 Sat, 25 Apr 2020 10:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394794 A section 7 insolvency application under the Insolvency and Bankruptcy Code was found maintainable on documentary proof of financial debt and default, supported by loan, security and account records. The Tribunal held that default was established from 30/09/2015, the claim met the statutory threshold, and the filing was within limitation on the basis of the last payment dated 26/02/2016. Service on the corporate debtor was completed, the petition was procedurally complete, and pending SARFAESI and DRT proceedings did not bar initiation of corporate insolvency resolution process. The application was admitted and CIRP was directed to commence, with the proposed insolvency professional appointed as interim resolution professional. Case-Laws Insolvency and Bankruptcy Mon, 13 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394794