https://www.taxtmi.com/caselaws?id=288813 An application under Section 7 was maintainable where it was filed by an authorised officer acting under a general power of attorney and a specific letter of authority, and the objection to competence was rejected. Pending writ proceedings and an interim High Court order dealing with secured assets did not operate as a bar to initiation or admission of the insolvency petition because no express restraint on the adjudicating authority was shown. On the materials produced, including loan documents, account records and the debtor's own inability to meet instalments, default and the other statutory requirements for admission were established, so the application was admitted and CIRP with moratorium was directed to commence. en-us Tue, 26 Feb 2019 00:00:00 +0530 Wed, 01 Jul 2020 08:04:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288813 An application under Section 7 was maintainable where it was filed by an authorised officer acting under a general power of attorney and a specific letter of authority, and the objection to competence was rejected. Pending writ proceedings and an interim High Court order dealing with secured assets did not operate as a bar to initiation or admission of the insolvency petition because no express restraint on the adjudicating authority was shown. On the materials produced, including loan documents, account records and the debtor's own inability to meet instalments, default and the other statutory requirements for admission were established, so the application was admitted and CIRP with moratorium was directed to commence. Case-Laws Insolvency and Bankruptcy Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288813