https://www.taxtmi.com/caselaws?id=752517 Proved financial debt and default supported admission of the Section 7 application, so the order was not interfered with. The existence of consortium lending facilities and outstanding dues was undisputed, and the borrower's reply to the SARFAESI notice did not deny liability but only sought time and referred to settlement efforts. Repeated opportunities had been given before the Adjudicating Authority, and the alleged settlements during appeal were not converted into payment or a completed proposal. On that record, the finding of debt and default was upheld and the appeal failed. en-us Fri, 10 May 2024 00:00:00 +0530 Mon, 13 May 2024 08:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752517 Proved financial debt and default supported admission of the Section 7 application, so the order was not interfered with. The existence of consortium lending facilities and outstanding dues was undisputed, and the borrower's reply to the SARFAESI notice did not deny liability but only sought time and referred to settlement efforts. Repeated opportunities had been given before the Adjudicating Authority, and the alleged settlements during appeal were not converted into payment or a completed proposal. On that record, the finding of debt and default was upheld and the appeal failed. Case-Laws Insolvency and Bankruptcy Fri, 10 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752517