https://www.taxtmi.com/caselaws?id=295574 An application under section 7 of the Insolvency and Bankruptcy Code was admitted because the financial creditor proved the sanctioned loans, assignment of debt, prior recovery steps and the continuing outstanding liability, while the corporate debtor did not seriously dispute the debt and its objection to computation lacked supporting material. Default was therefore established on the record, satisfying the requirements for admission. The proposed interim resolution professional had given consent and no disciplinary concern was shown, so the corporate insolvency resolution process was ordered, moratorium was declared and the interim resolution professional was appointed. en-us Wed, 06 Jun 2018 00:00:00 +0530 Thu, 10 Jun 2021 08:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295574 An application under section 7 of the Insolvency and Bankruptcy Code was admitted because the financial creditor proved the sanctioned loans, assignment of debt, prior recovery steps and the continuing outstanding liability, while the corporate debtor did not seriously dispute the debt and its objection to computation lacked supporting material. Default was therefore established on the record, satisfying the requirements for admission. The proposed interim resolution professional had given consent and no disciplinary concern was shown, so the corporate insolvency resolution process was ordered, moratorium was declared and the interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Wed, 06 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295574