https://www.taxtmi.com/caselaws?id=398878 A Section 7 application was maintainable where the record showed disbursal of financial assistance, existence of a financial debt and default, and classification of the corporate debtor's account as non-performing. The objections in reply did not displace the statutory satisfaction required for admission. Once default was established and the petition was otherwise complete, admission followed, triggering commencement of the corporate insolvency resolution process, moratorium, and appointment of an interim resolution professional. en-us Tue, 28 Jul 2020 00:00:00 +0530 Sat, 26 Sep 2020 11:41:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398878 A Section 7 application was maintainable where the record showed disbursal of financial assistance, existence of a financial debt and default, and classification of the corporate debtor's account as non-performing. The objections in reply did not displace the statutory satisfaction required for admission. Once default was established and the petition was otherwise complete, admission followed, triggering commencement of the corporate insolvency resolution process, moratorium, and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Tue, 28 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398878