https://www.taxtmi.com/caselaws?id=291606 A Section 7 insolvency application under the Insolvency and Bankruptcy Code, 2016 was supported by the sanction letter, loan documents and account statements showing that the corporate debtor had availed the financial facility and failed to repay the outstanding debt. The tribunal treated the debtor's objections as not relevant at the admission stage once default was shown, found the application complete, and approved the proposed interim resolution professional. On that basis, default was held established, the application was admitted, moratorium was ordered, and the corporate insolvency resolution process was initiated. en-us Thu, 24 Oct 2019 00:00:00 +0530 Wed, 18 Nov 2020 19:22:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291606 A Section 7 insolvency application under the Insolvency and Bankruptcy Code, 2016 was supported by the sanction letter, loan documents and account statements showing that the corporate debtor had availed the financial facility and failed to repay the outstanding debt. The tribunal treated the debtor's objections as not relevant at the admission stage once default was shown, found the application complete, and approved the proposed interim resolution professional. On that basis, default was held established, the application was admitted, moratorium was ordered, and the corporate insolvency resolution process was initiated. Case-Laws Insolvency and Bankruptcy Thu, 24 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291606