https://www.taxtmi.com/caselaws?id=405543 A section 7 insolvency application remains within limitation where it is filed within the period computed from the corporate debtor's last payment, supported by continuing payment history and the account's non-performing asset classification; the limitation objection under Article 137 read with section 238A therefore fails. Financial debt and default are established where secured non-convertible debenture facilities, assignment of debt, payment records, a default notice, information utility records, and the debtor's written admission support the claim. Satisfaction of these requirements permits admission of the application, imposition of a moratorium, and appointment of an interim resolution professional to commence the corporate insolvency resolution process. en-us Fri, 05 Mar 2021 00:00:00 +0530 Tue, 23 Mar 2021 08:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405543 A section 7 insolvency application remains within limitation where it is filed within the period computed from the corporate debtor's last payment, supported by continuing payment history and the account's non-performing asset classification; the limitation objection under Article 137 read with section 238A therefore fails. Financial debt and default are established where secured non-convertible debenture facilities, assignment of debt, payment records, a default notice, information utility records, and the debtor's written admission support the claim. Satisfaction of these requirements permits admission of the application, imposition of a moratorium, and appointment of an interim resolution professional to commence the corporate insolvency resolution process. Case-Laws Insolvency and Bankruptcy Fri, 05 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405543