https://www.taxtmi.com/caselaws?id=431611 A section 7 insolvency application was supported by sanction letters, loan agreements and a disbursement statement, while the corporate debtor did not dispute execution, disbursement or default. Regulation 2A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, which recognises certified copies of bankers' book entries as one mode of proving default, was inserted only from 13.11.2020 and did not apply to the filing. On that basis, the absence of a separate Section 65B certificate did not make the application incomplete, and the record was treated as sufficient to establish debt and default. The fraud allegation was left open for pursuit under Section 65 of the Insolvency and Bankruptcy Code, 2016. en-us Thu, 15 Dec 2022 00:00:00 +0530 Sat, 17 Dec 2022 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431611 A section 7 insolvency application was supported by sanction letters, loan agreements and a disbursement statement, while the corporate debtor did not dispute execution, disbursement or default. Regulation 2A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, which recognises certified copies of bankers' book entries as one mode of proving default, was inserted only from 13.11.2020 and did not apply to the filing. On that basis, the absence of a separate Section 65B certificate did not make the application incomplete, and the record was treated as sufficient to establish debt and default. The fraud allegation was left open for pursuit under Section 65 of the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431611