https://www.taxtmi.com/caselaws?id=759364 A co-borrower who signs loan and security documents and accepts joint and several liability can be treated as owing financial debt and proceeded against under section 7 of the Insolvency and Bankruptcy Code. The text also states that a part-payment and later written acknowledgment extended limitation, so the application was not barred by time or by section 10A. Insufficiency of stamp duty in the facility agreement was treated as a curable admissibility defect that did not negate the underlying borrowing or default. Reliance on the MSME revival framework and SARFAESI measures did not displace the insolvency remedy, and the insolvency petition was sustained. en-us Wed, 25 Sep 2024 00:00:00 +0530 Mon, 30 Sep 2024 13:45:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759364 A co-borrower who signs loan and security documents and accepts joint and several liability can be treated as owing financial debt and proceeded against under section 7 of the Insolvency and Bankruptcy Code. The text also states that a part-payment and later written acknowledgment extended limitation, so the application was not barred by time or by section 10A. Insufficiency of stamp duty in the facility agreement was treated as a curable admissibility defect that did not negate the underlying borrowing or default. Reliance on the MSME revival framework and SARFAESI measures did not displace the insolvency remedy, and the insolvency petition was sustained. Case-Laws IBC Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759364