https://www.taxtmi.com/caselaws?id=395360 Section 7 admission under the Insolvency and Bankruptcy Code turned on whether the claim was within limitation and whether financial debt and default were established. The Limitation Act applied through section 238A, and a claim enforced against mortgaged immovable property attracted the twelve-year period under Article 62; on the stated dates, the application was within time. The statement of accounts was accepted as adequate, objections based on the joint lenders' forum were treated as irrelevant to section 7 adjudication, and the debt was found to be financial debt with default proved on the record. The insolvency petition was admitted and CIRP directed to commence with moratorium and an interim resolution professional. en-us Wed, 29 Jan 2020 00:00:00 +0530 Tue, 19 May 2020 10:28:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395360 Section 7 admission under the Insolvency and Bankruptcy Code turned on whether the claim was within limitation and whether financial debt and default were established. The Limitation Act applied through section 238A, and a claim enforced against mortgaged immovable property attracted the twelve-year period under Article 62; on the stated dates, the application was within time. The statement of accounts was accepted as adequate, objections based on the joint lenders' forum were treated as irrelevant to section 7 adjudication, and the debt was found to be financial debt with default proved on the record. The insolvency petition was admitted and CIRP directed to commence with moratorium and an interim resolution professional. Case-Laws Insolvency and Bankruptcy Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395360