https://www.taxtmi.com/caselaws?id=305651 A Section 7 Insolvency and Bankruptcy Code application was treated as complete because the financial debt, disbursement records, account statements, charge documents and restructuring correspondence showed acknowledgment of liability and default in repayment of revised instalments. The restructuring was revoked after the instalment due on 15.06.2017 remained unpaid beyond the contractual grace period. As the petition satisfied Section 7 and Rule 4(2) requirements and no disciplinary proceeding was shown against the proposed interim resolution professional, the application was admitted, CIRP was commenced, a moratorium was declared, and the proposed interim resolution professional was appointed. en-us Fri, 03 Jan 2020 00:00:00 +0530 Mon, 19 Dec 2022 09:14:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305651 A Section 7 Insolvency and Bankruptcy Code application was treated as complete because the financial debt, disbursement records, account statements, charge documents and restructuring correspondence showed acknowledgment of liability and default in repayment of revised instalments. The restructuring was revoked after the instalment due on 15.06.2017 remained unpaid beyond the contractual grace period. As the petition satisfied Section 7 and Rule 4(2) requirements and no disciplinary proceeding was shown against the proposed interim resolution professional, the application was admitted, CIRP was commenced, a moratorium was declared, and the proposed interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Fri, 03 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305651