https://www.taxtmi.com/caselaws?id=414406 A section 7 insolvency application was held to be within limitation because time was counted from the relevant defaulted instalments forming the claim, not the first historical default in the repayment schedule. Insufficient stamping on the contractual documents was treated as a curable defect and not a ground to reject admission. The objection that the petition was filed without valid authority also failed, as board resolution and power of attorney established authorisation. On the materials showing financial debt, default and continuing non-payment, the tribunal admitted the application and directed commencement of CIRP with moratorium and appointment of an interim resolution professional. en-us Wed, 06 Oct 2021 00:00:00 +0530 Mon, 08 Nov 2021 06:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414406 A section 7 insolvency application was held to be within limitation because time was counted from the relevant defaulted instalments forming the claim, not the first historical default in the repayment schedule. Insufficient stamping on the contractual documents was treated as a curable defect and not a ground to reject admission. The objection that the petition was filed without valid authority also failed, as board resolution and power of attorney established authorisation. On the materials showing financial debt, default and continuing non-payment, the tribunal admitted the application and directed commencement of CIRP with moratorium and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Wed, 06 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414406