https://www.taxtmi.com/caselaws?id=303439 A legally assigned financial debt may be enforced by the assignee as a financial creditor under section 7, and the debtor cannot defeat maintainability merely because the debt was transferred. The board authorisation was upheld as valid where the signatory was specifically authorised by a board resolution passed by circulation and duly certified. Limitation was rejected on the stated reasoning that the right to apply arose after the Insolvency and Bankruptcy Code came into force. Pending or invoked SARFAESI ures did not bar admission of the insolvency application once default and maintainability were established, and the corporate insolvency resolution process was admitted with moratorium and an interim resolution professional. en-us Fri, 22 Dec 2017 00:00:00 +0530 Sat, 23 Jul 2022 09:01:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303439 A legally assigned financial debt may be enforced by the assignee as a financial creditor under section 7, and the debtor cannot defeat maintainability merely because the debt was transferred. The board authorisation was upheld as valid where the signatory was specifically authorised by a board resolution passed by circulation and duly certified. Limitation was rejected on the stated reasoning that the right to apply arose after the Insolvency and Bankruptcy Code came into force. Pending or invoked SARFAESI ures did not bar admission of the insolvency application once default and maintainability were established, and the corporate insolvency resolution process was admitted with moratorium and an interim resolution professional. Case-Laws Insolvency and Bankruptcy Fri, 22 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303439