https://www.taxtmi.com/caselaws?id=288070 An application under section 7 of the Insolvency and Bankruptcy Code was treated as within limitation because the Limitation Act applies from the inception of the Code, and a mortgage-backed claim could fall within the twelve-year period under Article 62; the recorded default date was not displaced by contrary material. The Tribunal also held that alleged defects in account statements did not defeat admission, since the insolvency form required only the relevant bank record and not certification under the Bankers' Books Evidence Act. Objections based on a joint lenders' forum arrangement were irrelevant because admission turns only on proof of financial debt and default. The petition was admitted and CIRP with moratorium followed. en-us Tue, 29 Jan 2019 00:00:00 +0530 Mon, 18 May 2020 09:41:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288070 An application under section 7 of the Insolvency and Bankruptcy Code was treated as within limitation because the Limitation Act applies from the inception of the Code, and a mortgage-backed claim could fall within the twelve-year period under Article 62; the recorded default date was not displaced by contrary material. The Tribunal also held that alleged defects in account statements did not defeat admission, since the insolvency form required only the relevant bank record and not certification under the Bankers' Books Evidence Act. Objections based on a joint lenders' forum arrangement were irrelevant because admission turns only on proof of financial debt and default. The petition was admitted and CIRP with moratorium followed. Case-Laws Insolvency and Bankruptcy Tue, 29 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288070