https://www.taxtmi.com/caselaws?id=416200 A Section 7 application under the Insolvency and Bankruptcy Code was found complete and supported by sanction letters, demand notice, NPA classification and evidence of non-payment. Default was treated as arising when the instalment first became due and remained unpaid, rather than from the later NPA date. Limitation ran from that default date under Article 137 of the Limitation Act, with the Supreme Court's limitation-extension period excluded, so the filing was within time. No disciplinary proceeding was shown against the proposed resolution professional, and the application was admitted with commencement of the corporate insolvency resolution process and moratorium. en-us Tue, 21 Dec 2021 00:00:00 +0530 Thu, 23 Dec 2021 12:09:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416200 A Section 7 application under the Insolvency and Bankruptcy Code was found complete and supported by sanction letters, demand notice, NPA classification and evidence of non-payment. Default was treated as arising when the instalment first became due and remained unpaid, rather than from the later NPA date. Limitation ran from that default date under Article 137 of the Limitation Act, with the Supreme Court's limitation-extension period excluded, so the filing was within time. No disciplinary proceeding was shown against the proposed resolution professional, and the application was admitted with commencement of the corporate insolvency resolution process and moratorium. Case-Laws Insolvency and Bankruptcy Tue, 21 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416200