https://www.taxtmi.com/caselaws?id=430530 An unsatisfied money decree, supported by the underlying tripartite financial arrangement, acknowledgements and part payment, was treated as a financial debt for Section 7 insolvency purposes, so the decree-holder could maintain the insolvency application. The Section 7 filing was held to be within limitation because the decree and later balance-sheet entries preserved the liability and the unpaid decree gave rise to a fresh cause of action. Refusal of further time to file a reply was not treated as a breach of natural justice, since repeated opportunities had already been granted and the reply was not filed. The admission order was sustained and the challenge failed. en-us Wed, 16 Nov 2022 00:00:00 +0530 Tue, 22 Nov 2022 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430530 An unsatisfied money decree, supported by the underlying tripartite financial arrangement, acknowledgements and part payment, was treated as a financial debt for Section 7 insolvency purposes, so the decree-holder could maintain the insolvency application. The Section 7 filing was held to be within limitation because the decree and later balance-sheet entries preserved the liability and the unpaid decree gave rise to a fresh cause of action. Refusal of further time to file a reply was not treated as a breach of natural justice, since repeated opportunities had already been granted and the reply was not filed. The admission order was sustained and the challenge failed. Case-Laws Insolvency and Bankruptcy Wed, 16 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430530