https://www.taxtmi.com/caselaws?id=402375 An application under section 7 of the Insolvency and Bankruptcy Code was maintainable because the financial debt was admitted and supported by the repayment record, restructuring schedule and information utility report; the objection that the date of default was misstated did not displace the evidence that the debt had become due and remained unpaid. Findings in SARFAESI proceedings, including setting aside of the demand notice, were irrelevant to the separate section 7 inquiry, which is limited to the existence of debt and default. On that basis, the corporate debtor was admitted to corporate insolvency resolution process. en-us Wed, 02 Sep 2020 00:00:00 +0530 Thu, 31 Dec 2020 13:44:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402375 An application under section 7 of the Insolvency and Bankruptcy Code was maintainable because the financial debt was admitted and supported by the repayment record, restructuring schedule and information utility report; the objection that the date of default was misstated did not displace the evidence that the debt had become due and remained unpaid. Findings in SARFAESI proceedings, including setting aside of the demand notice, were irrelevant to the separate section 7 inquiry, which is limited to the existence of debt and default. On that basis, the corporate debtor was admitted to corporate insolvency resolution process. Case-Laws Insolvency and Bankruptcy Wed, 02 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402375