https://www.taxtmi.com/caselaws?id=289733 An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is admitted where financial debt and default are established on the record and remain unrebutted. The materials cited, including the loan agreement, mortgage deed and sanction letter, were treated as sufficient to show disbursal of financial assistance, and the claimed repayment default was not contested because the corporate debtor did not appear despite service. On that basis, the corporate insolvency resolution process was initiated, a moratorium was declared, and an interim resolution professional was appointed. en-us Mon, 06 Aug 2018 00:00:00 +0530 Wed, 19 Aug 2020 09:45:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289733 An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is admitted where financial debt and default are established on the record and remain unrebutted. The materials cited, including the loan agreement, mortgage deed and sanction letter, were treated as sufficient to show disbursal of financial assistance, and the claimed repayment default was not contested because the corporate debtor did not appear despite service. On that basis, the corporate insolvency resolution process was initiated, a moratorium was declared, and an interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Mon, 06 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289733