https://www.taxtmi.com/caselaws?id=427684 An authorisation letter and the financial creditor's internal signing powers were treated as sufficient to validate a section 7 application filed by an Assistant General Manager. Limitation was found to continue because a payment was made within three years of the NPA date and later balance sheets contained acknowledgements of liability, extending time to file. Loan documents, revival and supplementary papers, balance confirmations, and later financial records established financial debt and continuing default. On that basis, the section 7 threshold was satisfied and the application was admitted, leading to commencement of CIRP, moratorium, and appointment of an interim resolution professional. en-us Mon, 12 Sep 2022 00:00:00 +0530 Thu, 15 Sep 2022 07:49:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427684 An authorisation letter and the financial creditor's internal signing powers were treated as sufficient to validate a section 7 application filed by an Assistant General Manager. Limitation was found to continue because a payment was made within three years of the NPA date and later balance sheets contained acknowledgements of liability, extending time to file. Loan documents, revival and supplementary papers, balance confirmations, and later financial records established financial debt and continuing default. On that basis, the section 7 threshold was satisfied and the application was admitted, leading to commencement of CIRP, moratorium, and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Mon, 12 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427684