https://www.taxtmi.com/caselaws?id=767525 A Section 7 insolvency application was analysed on limitation, the permissibility of an additional restructuring loan, the effect of contractual interest and penal interest, and the omission of the exact default date in Part IV. The later term loan was treated as a separate facility, and acknowledgments in letters and balance-sheet disclosures extended limitation. The additional funding was held maintainable as fresh restructuring finance by an asset reconstruction company. The interest challenge was rejected where the borrower had accepted the contractual terms. A technical omission in the application did not defeat the claim because debt and default were otherwise supported by records and documents. en-us Tue, 18 Mar 2025 00:00:00 +0530 Wed, 19 Mar 2025 15:24:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767525 A Section 7 insolvency application was analysed on limitation, the permissibility of an additional restructuring loan, the effect of contractual interest and penal interest, and the omission of the exact default date in Part IV. The later term loan was treated as a separate facility, and acknowledgments in letters and balance-sheet disclosures extended limitation. The additional funding was held maintainable as fresh restructuring finance by an asset reconstruction company. The interest challenge was rejected where the borrower had accepted the contractual terms. A technical omission in the application did not defeat the claim because debt and default were otherwise supported by records and documents. Case-Laws IBC Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767525