https://www.taxtmi.com/caselaws?id=289770 A Section 7 insolvency application may be admitted when the record shows financial debt, default, and compliance with the filing requirements under the Insolvency and Bankruptcy Code. On the facts recorded, the corporate debtor had availed credit facilities, acknowledged the debt, and failed to repay despite notice; the application was filed in the prescribed form with the requisite fee; and the proposed interim resolution professional disclosed that no disciplinary proceedings were pending. The Authority therefore treated the petition as complete, found the statutory requirements satisfied, and declared moratorium under Section 14. en-us Fri, 31 May 2019 00:00:00 +0530 Fri, 21 Aug 2020 09:57:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289770 A Section 7 insolvency application may be admitted when the record shows financial debt, default, and compliance with the filing requirements under the Insolvency and Bankruptcy Code. On the facts recorded, the corporate debtor had availed credit facilities, acknowledged the debt, and failed to repay despite notice; the application was filed in the prescribed form with the requisite fee; and the proposed interim resolution professional disclosed that no disciplinary proceedings were pending. The Authority therefore treated the petition as complete, found the statutory requirements satisfied, and declared moratorium under Section 14. Case-Laws Insolvency and Bankruptcy Fri, 31 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289770