https://www.taxtmi.com/caselaws?id=399034 A section 7 application was admitted where the financial creditor proved financial debt, default, and compliance with procedural and limitation requirements under the Insolvency and Bankruptcy Code, 2016. The Tribunal relied on loan documents, account statements, Bankers' Books Evidence Act certification, CIBIL records, security documents, and evidence of default to find that the corporate debtor had availed the facilities, the debt had crossed the threshold, and default had occurred. The objection based on NPA classification did not displace the record, and the application was treated as complete and the debt as due and payable, leading to commencement of CIRP. en-us Thu, 05 Mar 2020 00:00:00 +0530 Thu, 01 Oct 2020 11:38:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399034 A section 7 application was admitted where the financial creditor proved financial debt, default, and compliance with procedural and limitation requirements under the Insolvency and Bankruptcy Code, 2016. The Tribunal relied on loan documents, account statements, Bankers' Books Evidence Act certification, CIBIL records, security documents, and evidence of default to find that the corporate debtor had availed the facilities, the debt had crossed the threshold, and default had occurred. The objection based on NPA classification did not displace the record, and the application was treated as complete and the debt as due and payable, leading to commencement of CIRP. Case-Laws Insolvency and Bankruptcy Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399034