https://www.taxtmi.com/caselaws?id=399407 A financial creditor's Section 7 application under the Insolvency and Bankruptcy Code was held admissible where loan documents, account statements, an outstanding balance calculation, a credit report, and a balance confirmation from the corporate debtor established debt and default. The corporate debtor's request for time to settle and reference to commercial difficulties did not displace the evidence of default. The application was also found complete, and no disciplinary proceedings were pending against the proposed interim resolution professional. On satisfaction of these statutory requirements, the petition was admitted, the moratorium commenced, and the interim resolution professional was appointed. en-us Thu, 16 Jan 2020 00:00:00 +0530 Sat, 10 Oct 2020 10:57:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399407 A financial creditor's Section 7 application under the Insolvency and Bankruptcy Code was held admissible where loan documents, account statements, an outstanding balance calculation, a credit report, and a balance confirmation from the corporate debtor established debt and default. The corporate debtor's request for time to settle and reference to commercial difficulties did not displace the evidence of default. The application was also found complete, and no disciplinary proceedings were pending against the proposed interim resolution professional. On satisfaction of these statutory requirements, the petition was admitted, the moratorium commenced, and the interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Thu, 16 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399407