https://www.taxtmi.com/caselaws?id=403125 The Tribunal upheld the Adjudicating Authority's order admitting the petition under Section 7 of the I&B Code, as the Financial Creditor successfully proved the existence of a financial debt and the occurrence of default by the Corporate Debtor. Despite the Appellant's arguments challenging the financial contract, debt qualification, application completeness, and default occurrence, the Tribunal found no merit in them and dismissed the appeal. The Corporate Debtor's failure to repay the loan with interest constituted a default under the I&B Code, leading to the dismissal of the appeal without costs. en-us Tue, 19 Jan 2021 00:00:00 +0530 Wed, 20 Jan 2021 13:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403125 The Tribunal upheld the Adjudicating Authority's order admitting the petition under Section 7 of the I&B Code, as the Financial Creditor successfully proved the existence of a financial debt and the occurrence of default by the Corporate Debtor. Despite the Appellant's arguments challenging the financial contract, debt qualification, application completeness, and default occurrence, the Tribunal found no merit in them and dismissed the appeal. The Corporate Debtor's failure to repay the loan with interest constituted a default under the I&B Code, leading to the dismissal of the appeal without costs. Case-Laws Insolvency and Bankruptcy Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403125