https://www.taxtmi.com/caselaws?id=300898 Jurisdictional objection to admission of a section 7 Insolvency and Bankruptcy Code application was rejected because the alternate NCLT bench had not yet become functional and the Chennai Bench was handling matters for that region when the application was filed. On default, the record showed sanctioned and renewed credit facilities, executed loan and guarantee documents, balance confirmations, written acknowledgments of liability, assignment of debt, and proof of outstanding dues; the corporate debtor did not dispute the merits. These materials were treated as sufficient to establish default, so the application was admitted, CIRP commenced, an interim resolution professional was appointed, and moratorium was declared. en-us Tue, 01 Jan 2019 00:00:00 +0530 Thu, 03 Mar 2022 06:47:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300898 Jurisdictional objection to admission of a section 7 Insolvency and Bankruptcy Code application was rejected because the alternate NCLT bench had not yet become functional and the Chennai Bench was handling matters for that region when the application was filed. On default, the record showed sanctioned and renewed credit facilities, executed loan and guarantee documents, balance confirmations, written acknowledgments of liability, assignment of debt, and proof of outstanding dues; the corporate debtor did not dispute the merits. These materials were treated as sufficient to establish default, so the application was admitted, CIRP commenced, an interim resolution professional was appointed, and moratorium was declared. Case-Laws Insolvency and Bankruptcy Tue, 01 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300898