https://www.taxtmi.com/caselaws?id=288094 The Tribunal dismissed all objections raised by the Corporate Debtor, affirming the validity of the power of attorney, certification of accounts, and stamping of the Facility Agreement. It ruled that the RBI directives and English Law governing the ECB facility did not preclude insolvency proceedings in India. Consequently, the Tribunal admitted the petition under Section 7 of the IBC, 2016, and ordered the appointment of an Interim Resolution Professional, acknowledging the Financial Creditor's proof of debt and default. en-us Fri, 15 Dec 2017 00:00:00 +0530 Thu, 14 Nov 2024 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288094 The Tribunal dismissed all objections raised by the Corporate Debtor, affirming the validity of the power of attorney, certification of accounts, and stamping of the Facility Agreement. It ruled that the RBI directives and English Law governing the ECB facility did not preclude insolvency proceedings in India. Consequently, the Tribunal admitted the petition under Section 7 of the IBC, 2016, and ordered the appointment of an Interim Resolution Professional, acknowledging the Financial Creditor's proof of debt and default. Case-Laws IBC Fri, 15 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288094