https://www.taxtmi.com/caselaws?id=287746 Financial debt and default were established on the basis of loan sanction documents, account statements, ledger entries, a CIBIL extract, charge records and an acknowledgment of debt by the corporate debtor. The account had been classified as NPA, and no repayment was shown. As the corporate debtor did not contest the petition, the requirements for admission under section 7 of the Insolvency and Bankruptcy Code, 2016 were found satisfied. The application was admitted, Corporate Insolvency Resolution Process was directed to commence, moratorium and public announcement were ordered, and the proposed Interim Resolution Professional was appointed on the basis of the required written communication and disclosure. en-us Mon, 10 Dec 2018 00:00:00 +0530 Thu, 30 Apr 2020 10:23:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287746 Financial debt and default were established on the basis of loan sanction documents, account statements, ledger entries, a CIBIL extract, charge records and an acknowledgment of debt by the corporate debtor. The account had been classified as NPA, and no repayment was shown. As the corporate debtor did not contest the petition, the requirements for admission under section 7 of the Insolvency and Bankruptcy Code, 2016 were found satisfied. The application was admitted, Corporate Insolvency Resolution Process was directed to commence, moratorium and public announcement were ordered, and the proposed Interim Resolution Professional was appointed on the basis of the required written communication and disclosure. Case-Laws Insolvency and Bankruptcy Mon, 10 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287746