https://www.taxtmi.com/caselaws?id=298472 For admission of a section 7 insolvency petition, the note states that proof of financial debt and default, together with a complete application, is sufficient to justify admission under the Insolvency and Bankruptcy Code, 2016. It further records that a written acknowledgment of debt extends limitation, allowing filing within three years of such acknowledgment. The note also states that section 10A does not apply where the default occurred before its insertion. On these principles, the section 7 application was admitted and CIRP was ordered to commence with moratorium and appointment of an interim resolution professional. en-us Tue, 13 Oct 2020 00:00:00 +0530 Thu, 04 Nov 2021 11:17:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298472 For admission of a section 7 insolvency petition, the note states that proof of financial debt and default, together with a complete application, is sufficient to justify admission under the Insolvency and Bankruptcy Code, 2016. It further records that a written acknowledgment of debt extends limitation, allowing filing within three years of such acknowledgment. The note also states that section 10A does not apply where the default occurred before its insertion. On these principles, the section 7 application was admitted and CIRP was ordered to commence with moratorium and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Tue, 13 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298472