https://www.taxtmi.com/caselaws?id=289402 A section 7 application under the Insolvency and Bankruptcy Code was held complete and maintainable because the financial creditor produced loan documents, account statements, CIBIL record, charge filings and a banker's books certificate evidencing disbursement of financial debt and default by the corporate debtor. The limitation objection was rejected as the record showed subsequent acknowledgments and transactions within the relevant period, so the application was treated as timely. Pending SARFAESI and other recovery proceedings did not bar initiation of insolvency proceedings, as the Code remedy operates independently and in rem. On these findings, the application was admitted, CIRP commenced, and the proposed interim resolution professional was appointed. en-us Fri, 20 Sep 2019 00:00:00 +0530 Wed, 29 Jul 2020 12:16:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289402 A section 7 application under the Insolvency and Bankruptcy Code was held complete and maintainable because the financial creditor produced loan documents, account statements, CIBIL record, charge filings and a banker's books certificate evidencing disbursement of financial debt and default by the corporate debtor. The limitation objection was rejected as the record showed subsequent acknowledgments and transactions within the relevant period, so the application was treated as timely. Pending SARFAESI and other recovery proceedings did not bar initiation of insolvency proceedings, as the Code remedy operates independently and in rem. On these findings, the application was admitted, CIRP commenced, and the proposed interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289402