https://www.taxtmi.com/caselaws?id=408845 An application under Section 7 of the Insolvency and Bankruptcy Code was admitted after the Tribunal found the financial debt due and payable and the default established on the basis of loan documents, security creation papers, demand and possession notices, and a recovery certificate from the Debt Recovery Tribunal. The corporate debtor did not contest the proceedings despite service. The Tribunal held that the application was complete, the statutory threshold for admission was satisfied, and corporate insolvency resolution process was required to commence. Moratorium was declared and an Interim Resolution Professional was appointed to perform the statutory functions. en-us Wed, 16 Jun 2021 00:00:00 +0530 Wed, 23 Jun 2021 10:12:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408845 An application under Section 7 of the Insolvency and Bankruptcy Code was admitted after the Tribunal found the financial debt due and payable and the default established on the basis of loan documents, security creation papers, demand and possession notices, and a recovery certificate from the Debt Recovery Tribunal. The corporate debtor did not contest the proceedings despite service. The Tribunal held that the application was complete, the statutory threshold for admission was satisfied, and corporate insolvency resolution process was required to commence. Moratorium was declared and an Interim Resolution Professional was appointed to perform the statutory functions. Case-Laws Insolvency and Bankruptcy Wed, 16 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408845