https://www.taxtmi.com/caselaws?id=777581 NCLAT upheld the Adjudicating Authority's admission of the Section 7 application, finding a financial debt and default by the corporate debtor as of the NPA date (30.09.2017) exceeding the Rs.1 crore threshold. Bank records, ZLCC minutes, CIBIL report, Section 13(2) notice and repeated OTS proposals established debt and default. The tribunal held the Section 13(2) notice was not withdrawn and the Adjudicating Authority correctly concluded default and admission was valid. The appeal was dismissed. en-us Fri, 29 Aug 2025 00:00:00 +0530 Tue, 02 Sep 2025 08:01:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777581 NCLAT upheld the Adjudicating Authority's admission of the Section 7 application, finding a financial debt and default by the corporate debtor as of the NPA date (30.09.2017) exceeding the Rs.1 crore threshold. Bank records, ZLCC minutes, CIBIL report, Section 13(2) notice and repeated OTS proposals established debt and default. The tribunal held the Section 13(2) notice was not withdrawn and the Adjudicating Authority correctly concluded default and admission was valid. The appeal was dismissed. Case-Laws IBC Fri, 29 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777581