https://www.taxtmi.com/caselaws?id=434435 Claim admission in insolvency cannot be rejected merely because one supporting loan or security document is insufficiently stamped if the debt is otherwise established by contemporaneous records, assignments, registration data, financial statements and admissions; the separate Stamp Act proceedings do not undo verification already made in the CIRP. Limitation for a section 7 application is three years under Article 137, and the period during which proceedings were statutorily barred under the Rajasthan Relief Undertakings Act is excluded from computation, making the application timely. Replacement of the Resolution Professional requires a Committee of Creditors resolution backed by the statutory voting threshold, so a creditor with only 4% voting share cannot secure substitution without that procedure. en-us Tue, 21 Feb 2023 00:00:00 +0530 Fri, 24 Feb 2023 09:06:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434435 Claim admission in insolvency cannot be rejected merely because one supporting loan or security document is insufficiently stamped if the debt is otherwise established by contemporaneous records, assignments, registration data, financial statements and admissions; the separate Stamp Act proceedings do not undo verification already made in the CIRP. Limitation for a section 7 application is three years under Article 137, and the period during which proceedings were statutorily barred under the Rajasthan Relief Undertakings Act is excluded from computation, making the application timely. Replacement of the Resolution Professional requires a Committee of Creditors resolution backed by the statutory voting threshold, so a creditor with only 4% voting share cannot secure substitution without that procedure. Case-Laws Insolvency and Bankruptcy Tue, 21 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434435