https://www.taxtmi.com/caselaws?id=295194 Section 7 insolvency applications by assignee financial creditors are maintainable where valid assignment documents, financial facility records and authorisation establish a secured financial debt and default. A mortgage- and charge-secured claim may be treated as subject to a twelve-year limitation period. Pending or concluded SARFAESI measures, non-performing asset classification, consortium arrangements and alleged account-statement defects do not prevent admission when debt above the applicable threshold is due, payable and unpaid. On proof of debt and default, the corporate insolvency resolution process may be admitted, with a moratorium and appointment of an interim resolution professional. en-us Thu, 31 Jan 2019 00:00:00 +0530 Mon, 24 May 2021 08:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295194 Section 7 insolvency applications by assignee financial creditors are maintainable where valid assignment documents, financial facility records and authorisation establish a secured financial debt and default. A mortgage- and charge-secured claim may be treated as subject to a twelve-year limitation period. Pending or concluded SARFAESI measures, non-performing asset classification, consortium arrangements and alleged account-statement defects do not prevent admission when debt above the applicable threshold is due, payable and unpaid. On proof of debt and default, the corporate insolvency resolution process may be admitted, with a moratorium and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295194