https://www.taxtmi.com/caselaws?id=417552 The tribunal upheld the validity of the Assignment Agreement regarding the two Debenture Trust Deeds, despite the unenforceability of the Facility Agreement due to a court order. It found an admitted default under the valid transactions, leading to the acceptance of the Section 7 Application under the Insolvency and Bankruptcy Code. The tribunal dismissed the appeal, ruling in favor of the Respondent and emphasizing the principle of severability in financial transactions. en-us Mon, 24 Jan 2022 00:00:00 +0530 Thu, 27 Jan 2022 08:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417552 The tribunal upheld the validity of the Assignment Agreement regarding the two Debenture Trust Deeds, despite the unenforceability of the Facility Agreement due to a court order. It found an admitted default under the valid transactions, leading to the acceptance of the Section 7 Application under the Insolvency and Bankruptcy Code. The tribunal dismissed the appeal, ruling in favor of the Respondent and emphasizing the principle of severability in financial transactions. Case-Laws Insolvency and Bankruptcy Mon, 24 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417552