https://www.taxtmi.com/caselaws?id=413541 An application under section 7 of the Insolvency and Bankruptcy Code, 2016 was found complete, and default in repayment of financial debt was established on the basis of the loan request, business loan agreement, disbursement record, and the debtor's acknowledgment of inability to repay. The corporate debtor did not appear despite service and filed no material to rebut the claim. The statutory requirements for admission were therefore satisfied, the proposed interim resolution professional met the eligibility requirements, and the corporate insolvency resolution process was initiated with directions for public announcement and moratorium. en-us Fri, 01 Oct 2021 00:00:00 +0530 Thu, 14 Oct 2021 09:14:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413541 An application under section 7 of the Insolvency and Bankruptcy Code, 2016 was found complete, and default in repayment of financial debt was established on the basis of the loan request, business loan agreement, disbursement record, and the debtor's acknowledgment of inability to repay. The corporate debtor did not appear despite service and filed no material to rebut the claim. The statutory requirements for admission were therefore satisfied, the proposed interim resolution professional met the eligibility requirements, and the corporate insolvency resolution process was initiated with directions for public announcement and moratorium. Case-Laws Insolvency and Bankruptcy Fri, 01 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413541