https://www.taxtmi.com/caselaws?id=423985 The Tribunal found the application under section 7 of the Insolvency and Bankruptcy Code maintainable, rejecting arguments of limitation and the necessity of including State Bank of India as a party. It held the signatory was authorized, and the acknowledgment of debt by the Corporate Debtor supported the application. The Tribunal clarified the independence of SARFAESI Act and Insolvency and Bankruptcy Code proceedings, allowing for the admission of the application, appointment of an Interim Resolution Professional, declaration of a moratorium, and direction for the Financial Creditor to deposit funds for expenses. en-us Mon, 13 Jun 2022 00:00:00 +0530 Mon, 20 Jun 2022 08:38:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423985 The Tribunal found the application under section 7 of the Insolvency and Bankruptcy Code maintainable, rejecting arguments of limitation and the necessity of including State Bank of India as a party. It held the signatory was authorized, and the acknowledgment of debt by the Corporate Debtor supported the application. The Tribunal clarified the independence of SARFAESI Act and Insolvency and Bankruptcy Code proceedings, allowing for the admission of the application, appointment of an Interim Resolution Professional, declaration of a moratorium, and direction for the Financial Creditor to deposit funds for expenses. Case-Laws Insolvency and Bankruptcy Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423985