https://www.taxtmi.com/highlights?id=79128 Maintainability of application u/s 7 of IBC examined. Existence of debt and default established through Loan Agreement, Promissory Note, Audit Report, and Record of Default from Information Utility. Corporate Debtor's contention of loan being for general corporate purposes rejected. Stamping issue does not negate substantive evidence of debt and default. Adjudicating Authority's dismissal of application erroneous. Appeal allowed, impugned order set aside. en-us Fri, 05 Jul 2024 08:20:14 +0530 Fri, 05 Jul 2024 08:20:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79128 Maintainability of application u/s 7 of IBC examined. Existence of debt and default established through Loan Agreement, Promissory Note, Audit Report, and Record of Default from Information Utility. Corporate Debtor's contention of loan being for general corporate purposes rejected. Stamping issue does not negate substantive evidence of debt and default. Adjudicating Authority's dismissal of application erroneous. Appeal allowed, impugned order set aside. Highlights Insolvency and Bankruptcy Fri, 05 Jul 2024 08:20:14 +0530 https://www.taxtmi.com/highlights?id=79128