https://www.taxtmi.com/caselaws?id=293223 Section 7 of the Insolvency and Bankruptcy Code was found complete because the lender placed account statements and a supporting certificate on record, the corporate debtor did not dispute the loan account being classified as a non-performing asset, and default was specifically quantified. The objection that particulars were filled in after execution of the documents was unsupported by evidence, and other factual circumstances raised by the corporate debtor were treated as irrelevant to default. The application was also within limitation, and the proposed interim resolution professional had filed the required declaration. The application was admitted, Corporate Insolvency Resolution Process commenced, moratorium followed, and the interim resolution professional was appointed. en-us Fri, 29 Nov 2019 00:00:00 +0530 Sat, 30 Jan 2021 23:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293223 Section 7 of the Insolvency and Bankruptcy Code was found complete because the lender placed account statements and a supporting certificate on record, the corporate debtor did not dispute the loan account being classified as a non-performing asset, and default was specifically quantified. The objection that particulars were filled in after execution of the documents was unsupported by evidence, and other factual circumstances raised by the corporate debtor were treated as irrelevant to default. The application was also within limitation, and the proposed interim resolution professional had filed the required declaration. The application was admitted, Corporate Insolvency Resolution Process commenced, moratorium followed, and the interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293223