https://www.taxtmi.com/caselaws?id=776962 NCLAT (PB, New Delhi) dismissed the appeal and upheld admission of the Section 7 application, holding the corporate debtor committed default under the Loan Agreement despite the 09.11.2016 agreement; the loan recall dated 09.11.2022 rendered the entire amount due. The Tribunal found no merit in the contention that no debt survived novation or that the creditor lacked authority to file under Section 7, noting clause 4.3(a) preserved each lender's enforcement rights. The adjudicating authority's finding that Rs.6,10,25,59,513/- remained payable and in default was affirmed. en-us Wed, 20 Aug 2025 00:00:00 +0530 Fri, 22 Aug 2025 08:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776962 NCLAT (PB, New Delhi) dismissed the appeal and upheld admission of the Section 7 application, holding the corporate debtor committed default under the Loan Agreement despite the 09.11.2016 agreement; the loan recall dated 09.11.2022 rendered the entire amount due. The Tribunal found no merit in the contention that no debt survived novation or that the creditor lacked authority to file under Section 7, noting clause 4.3(a) preserved each lender's enforcement rights. The adjudicating authority's finding that Rs.6,10,25,59,513/- remained payable and in default was affirmed. Case-Laws IBC Wed, 20 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776962