https://www.taxtmi.com/caselaws?id=767804 A Section 7 insolvency application initiated through a debenture trustee structure must comply with the governing debenture trust deed and any prescribed majority-based decision process; where that contractual authority is not shown, the initiation is unauthorised. The filing must also be supported by a subsisting power of attorney or other valid corporate authority; an affidavit signed without continuing mandate is defective. Limitation runs from the admitted default date under Article 137, and a pre-pandemic default filed after the extended period remains time-barred. Section 10A does not protect defaults arising before 25.03.2020, so it cannot revive a pre-existing claim. en-us Thu, 27 Feb 2025 00:00:00 +0530 Wed, 19 Mar 2025 18:06:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767804 A Section 7 insolvency application initiated through a debenture trustee structure must comply with the governing debenture trust deed and any prescribed majority-based decision process; where that contractual authority is not shown, the initiation is unauthorised. The filing must also be supported by a subsisting power of attorney or other valid corporate authority; an affidavit signed without continuing mandate is defective. Limitation runs from the admitted default date under Article 137, and a pre-pandemic default filed after the extended period remains time-barred. Section 10A does not protect defaults arising before 25.03.2020, so it cannot revive a pre-existing claim. Case-Laws IBC Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767804