https://www.taxtmi.com/caselaws?id=301752 A corporate debtor's Section 10 application under the Insolvency and Bankruptcy Code, 2016 was held complete and maintainable because it was filed by an authorised director with the board resolution, financial statements, the proposed interim resolution professional's written communication, and the required particulars of default under the Code and the 2016 Rules. The objection that the debtor had sufficient means was unsupported by evidence, so no defect was established. Pendency of SARFAESI proceedings did not bar admission of the insolvency application, as Section 238 of the Code gives overriding effect to inconsistent remedies. The corporate debtor was admitted to corporate insolvency resolution process, moratorium was imposed, and an interim resolution professional was appointed. en-us Tue, 21 Nov 2017 00:00:00 +0530 Mon, 18 Apr 2022 20:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301752 A corporate debtor's Section 10 application under the Insolvency and Bankruptcy Code, 2016 was held complete and maintainable because it was filed by an authorised director with the board resolution, financial statements, the proposed interim resolution professional's written communication, and the required particulars of default under the Code and the 2016 Rules. The objection that the debtor had sufficient means was unsupported by evidence, so no defect was established. Pendency of SARFAESI proceedings did not bar admission of the insolvency application, as Section 238 of the Code gives overriding effect to inconsistent remedies. The corporate debtor was admitted to corporate insolvency resolution process, moratorium was imposed, and an interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Tue, 21 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301752