https://www.taxtmi.com/caselaws?id=287925 In a section 7 Insolvency and Bankruptcy Code application, admission depends on proof of financial debt and default, and collateral objections by promoters or third parties cannot block consideration on grounds such as pending proceedings, rehabilitation efforts, or unaccepted settlement proposals. The tribunal also noted that exact quantification of the claim is not required at the admission stage. Loan records, restructuring history, account statements, SARFAESI notice, and supporting documents were treated as sufficient to establish debt and continuing default, while objections on documentation, limitation, security particulars, and demand notice were rejected as not defeating default. en-us Tue, 27 Nov 2018 00:00:00 +0530 Mon, 11 May 2020 10:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287925 In a section 7 Insolvency and Bankruptcy Code application, admission depends on proof of financial debt and default, and collateral objections by promoters or third parties cannot block consideration on grounds such as pending proceedings, rehabilitation efforts, or unaccepted settlement proposals. The tribunal also noted that exact quantification of the claim is not required at the admission stage. Loan records, restructuring history, account statements, SARFAESI notice, and supporting documents were treated as sufficient to establish debt and continuing default, while objections on documentation, limitation, security particulars, and demand notice were rejected as not defeating default. Case-Laws Insolvency and Bankruptcy Tue, 27 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287925