https://www.taxtmi.com/caselaws?id=413440 Financial debt and default were established where the corporate debtor admitted liability, did not press its objections, and the record showed sanction and disbursal of loan and working capital facilities, repeated restructurings, continued non-payment, and classification of the account as non-performing. On those facts, the section 7 application was found complete and maintainable, and it was admitted. Corporate insolvency resolution process was ordered against the corporate debtor. en-us Wed, 06 Oct 2021 00:00:00 +0530 Thu, 25 Nov 2021 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413440 Financial debt and default were established where the corporate debtor admitted liability, did not press its objections, and the record showed sanction and disbursal of loan and working capital facilities, repeated restructurings, continued non-payment, and classification of the account as non-performing. On those facts, the section 7 application was found complete and maintainable, and it was admitted. Corporate insolvency resolution process was ordered against the corporate debtor. Case-Laws Insolvency and Bankruptcy Wed, 06 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413440