https://www.taxtmi.com/caselaws?id=767758 NCLAT dismissed the appeal in a Section 7 insolvency case where the corporate debtor owed Rs.1049.72 Crore to SBI. The account was declared NPA in 2017, and loan recall notice was issued in 2019 for Rs.2078.04 Crore. Despite the appellant's claims of submitting a one-time settlement proposal, SBI had not accepted it. The Tribunal found debt and default were admitted facts, noting the appellant had prolonged proceedings through interim orders while failing to bring any settlement on record. The corporate debtor's inability to clear debt warranted continuation of the Corporate Insolvency Resolution Process. en-us Mon, 24 Mar 2025 00:00:00 +0530 Tue, 25 Mar 2025 08:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767758 NCLAT dismissed the appeal in a Section 7 insolvency case where the corporate debtor owed Rs.1049.72 Crore to SBI. The account was declared NPA in 2017, and loan recall notice was issued in 2019 for Rs.2078.04 Crore. Despite the appellant's claims of submitting a one-time settlement proposal, SBI had not accepted it. The Tribunal found debt and default were admitted facts, noting the appellant had prolonged proceedings through interim orders while failing to bring any settlement on record. The corporate debtor's inability to clear debt warranted continuation of the Corporate Insolvency Resolution Process. Case-Laws IBC Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767758