https://www.taxtmi.com/caselaws?id=778330 NCLAT, PB, New Delhi held that the security trustee was duly authorised to file the Section 7 application after assignment of the loan to an asset reconstruction company, relying on the Trusteeship Agreement and subsequent written authorisation by the borrower. The Tribunal found that valid authorisation had been both pleaded and proved, rendering the appellant's contrary authorities unhelpful. Admission of the Section 7 petition against the corporate guarantors was upheld, given affirmation of CIRP initiation against the principal borrowers. The appeal was dismissed. en-us Fri, 12 Sep 2025 00:00:00 +0530 Mon, 15 Sep 2025 08:26:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778330 NCLAT, PB, New Delhi held that the security trustee was duly authorised to file the Section 7 application after assignment of the loan to an asset reconstruction company, relying on the Trusteeship Agreement and subsequent written authorisation by the borrower. The Tribunal found that valid authorisation had been both pleaded and proved, rendering the appellant's contrary authorities unhelpful. Admission of the Section 7 petition against the corporate guarantors was upheld, given affirmation of CIRP initiation against the principal borrowers. The appeal was dismissed. Case-Laws IBC Fri, 12 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778330