https://www.taxtmi.com/caselaws?id=299689 The National Company Law Tribunal, Hyderabad, admitted the petition under section 7 of the Insolvency & Bankruptcy Code, 2016, filed by the Trustee for EARC Trust-SC 130 against the Corporate Debtor for defaulting on loans, leading to NPA classification. The Adjudicating Authority dismissed the Corporate Debtor's limitation period contention due to debt acknowledgment in the Balance Sheets, allowing the commencement of Corporate Insolvency Resolution Proceedings. An Interim Resolution Professional was appointed to manage the process, ensuring protection of interests during the resolution process. en-us Fri, 06 Aug 2021 00:00:00 +0530 Fri, 24 Dec 2021 20:33:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299689 The National Company Law Tribunal, Hyderabad, admitted the petition under section 7 of the Insolvency & Bankruptcy Code, 2016, filed by the Trustee for EARC Trust-SC 130 against the Corporate Debtor for defaulting on loans, leading to NPA classification. The Adjudicating Authority dismissed the Corporate Debtor's limitation period contention due to debt acknowledgment in the Balance Sheets, allowing the commencement of Corporate Insolvency Resolution Proceedings. An Interim Resolution Professional was appointed to manage the process, ensuring protection of interests during the resolution process. Case-Laws Insolvency and Bankruptcy Fri, 06 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299689