https://www.taxtmi.com/caselaws?id=447488 For a Section 7 insolvency application, default may be proved by evidence other than an information-utility record, because Regulation 20(1A) does not make such authentication the exclusive mode of proof; statements of account and bankers' book certificates can suffice. Counter-claims, money suits, and alleged pre-existing disputes do not negate financial debt or default in a Section 7 proceeding, which turns on debt and default rather than the operational-debt dispute framework. Repeated one-time settlement proposals can amount to acknowledgments of liability and extend limitation, even if marked without prejudice, and an objection to the filing signatory failed where the power of attorney authorised institution of the proceedings. en-us Wed, 13 Dec 2023 00:00:00 +0530 Thu, 28 Dec 2023 08:42:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447488 For a Section 7 insolvency application, default may be proved by evidence other than an information-utility record, because Regulation 20(1A) does not make such authentication the exclusive mode of proof; statements of account and bankers' book certificates can suffice. Counter-claims, money suits, and alleged pre-existing disputes do not negate financial debt or default in a Section 7 proceeding, which turns on debt and default rather than the operational-debt dispute framework. Repeated one-time settlement proposals can amount to acknowledgments of liability and extend limitation, even if marked without prejudice, and an objection to the filing signatory failed where the power of attorney authorised institution of the proceedings. Case-Laws Insolvency and Bankruptcy Wed, 13 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447488