https://www.taxtmi.com/caselaws?id=409974 A Section 7 petition under the Insolvency and Bankruptcy Code, 2016 does not become non-maintainable merely because the Term Loan Agreement is alleged to be inadequately stamped. The tribunal found that the financial creditor had produced independent supporting material, including the demand promissory note, security documents, deposit of title deeds, charge registration certificate, bank statements, and related records, which together proved the financial debt and default. Even if the loan agreement were excluded, those contemporaneous documents were sufficient to establish maintainability. The objection based on non-registration or insufficient stamping was therefore rejected, and the Section 7 application was treated as complete. en-us Mon, 19 Jul 2021 00:00:00 +0530 Tue, 20 Jul 2021 21:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409974 A Section 7 petition under the Insolvency and Bankruptcy Code, 2016 does not become non-maintainable merely because the Term Loan Agreement is alleged to be inadequately stamped. The tribunal found that the financial creditor had produced independent supporting material, including the demand promissory note, security documents, deposit of title deeds, charge registration certificate, bank statements, and related records, which together proved the financial debt and default. Even if the loan agreement were excluded, those contemporaneous documents were sufficient to establish maintainability. The objection based on non-registration or insufficient stamping was therefore rejected, and the Section 7 application was treated as complete. Case-Laws Insolvency and Bankruptcy Mon, 19 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409974