https://www.taxtmi.com/caselaws?id=771568 A fresh Section 7 application cannot evade the Section 10A embargo by recasting the date of default, because default is fixed when the debt first becomes due and remains unpaid and does not shift merely through later reminders. On the facts, the debt was payable on demand and there was no written repayment schedule, so the attempted re-dating of default was rejected. The second petition was also barred because the earlier dismissal of the first Section 7 petition had attained finality after the appeal was withdrawn without setting that order aside, and the same financial debt could not be re-agitated by filing a fresh petition. The proposed liberty to file afresh did not permit reopening the pleaded default date. en-us Wed, 21 May 2025 00:00:00 +0530 Wed, 28 May 2025 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771568 A fresh Section 7 application cannot evade the Section 10A embargo by recasting the date of default, because default is fixed when the debt first becomes due and remains unpaid and does not shift merely through later reminders. On the facts, the debt was payable on demand and there was no written repayment schedule, so the attempted re-dating of default was rejected. The second petition was also barred because the earlier dismissal of the first Section 7 petition had attained finality after the appeal was withdrawn without setting that order aside, and the same financial debt could not be re-agitated by filing a fresh petition. The proposed liberty to file afresh did not permit reopening the pleaded default date. Case-Laws IBC Wed, 21 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771568