https://www.taxtmi.com/caselaws?id=289790 Admission of a Section 7 insolvency application was upheld where default was otherwise shown and the mortgage-backed claim fell within the 12-year limitation period applicable to mortgage enforcement under Article 62 of the Limitation Act. The limitation objection therefore failed. A dispute over the exact quantum of the financial creditor's claim did not bar maintainability, because disputed claims can still constitute debt under the Code and the precise amount payable is to be determined during the corporate insolvency resolution process after admission. The appeal was accordingly disposed of without interfering with admission on either ground. en-us Mon, 16 Sep 2019 00:00:00 +0530 Sat, 22 Aug 2020 09:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289790 Admission of a Section 7 insolvency application was upheld where default was otherwise shown and the mortgage-backed claim fell within the 12-year limitation period applicable to mortgage enforcement under Article 62 of the Limitation Act. The limitation objection therefore failed. A dispute over the exact quantum of the financial creditor's claim did not bar maintainability, because disputed claims can still constitute debt under the Code and the precise amount payable is to be determined during the corporate insolvency resolution process after admission. The appeal was accordingly disposed of without interfering with admission on either ground. Case-Laws Insolvency and Bankruptcy Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289790