https://www.taxtmi.com/caselaws?id=447940 Multiple hearings and permission to file reply and written submissions showed that the corporate debtor was not denied a fair opportunity before the Adjudicating Authority, so that objection failed. The record also supported financial debt and default: appropriation of pledged FDRs did not regularise the account because replenishment was not made, and OTS and restructuring communications acknowledging NPA status amounted to admission of liability and default. Those written acknowledgments, made within three years of default, extended limitation under Section 18 of the Limitation Act, making the Section 7 application timely. Section 10A did not apply because the default arose before the protected period commenced. en-us Wed, 03 Jan 2024 00:00:00 +0530 Tue, 09 Jan 2024 08:34:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447940 Multiple hearings and permission to file reply and written submissions showed that the corporate debtor was not denied a fair opportunity before the Adjudicating Authority, so that objection failed. The record also supported financial debt and default: appropriation of pledged FDRs did not regularise the account because replenishment was not made, and OTS and restructuring communications acknowledging NPA status amounted to admission of liability and default. Those written acknowledgments, made within three years of default, extended limitation under Section 18 of the Limitation Act, making the Section 7 application timely. Section 10A did not apply because the default arose before the protected period commenced. Case-Laws Insolvency and Bankruptcy Wed, 03 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447940