https://www.taxtmi.com/caselaws?id=414692 A Section 7 application under the Insolvency and Bankruptcy Code, 2016 is maintainable when filed by a bank officer armed with a valid general power of attorney, supported by board resolution and permission letter, because such authority empowers the officer to act for the financial creditor. The application was also not time-barred, as a later credit entry and the corporate debtor's signed balance sheets recording the outstanding liability were treated as acknowledgements of subsisting liability made within the limitation period. Those acknowledgements extended limitation, and the objection that the credit entry was by an unrelated party was unsupported by evidence. en-us Wed, 10 Nov 2021 00:00:00 +0530 Mon, 15 Nov 2021 09:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414692 A Section 7 application under the Insolvency and Bankruptcy Code, 2016 is maintainable when filed by a bank officer armed with a valid general power of attorney, supported by board resolution and permission letter, because such authority empowers the officer to act for the financial creditor. The application was also not time-barred, as a later credit entry and the corporate debtor's signed balance sheets recording the outstanding liability were treated as acknowledgements of subsisting liability made within the limitation period. Those acknowledgements extended limitation, and the objection that the credit entry was by an unrelated party was unsupported by evidence. Case-Laws Insolvency and Bankruptcy Wed, 10 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414692