https://www.taxtmi.com/caselaws?id=781060 NCLAT (PB) upheld admission of the Section 7 petition, dismissing the appeal. The bench held the MoU's Clause 6 triggered automatic default upon non-payment within 45 days, rendering the compromise terminated on 16.03.2020; subsequent payments or a pre-sanctioned disbursement under a different facility did not revive or cure the default. The default predated the Section 10A protection period, a valid financial debt and continuing default were established, and the Adjudicating Authority correctly admitted the petition under Section 7. Appeal dismissed. en-us Thu, 06 Nov 2025 00:00:00 +0530 Tue, 11 Nov 2025 08:20:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781060 NCLAT (PB) upheld admission of the Section 7 petition, dismissing the appeal. The bench held the MoU's Clause 6 triggered automatic default upon non-payment within 45 days, rendering the compromise terminated on 16.03.2020; subsequent payments or a pre-sanctioned disbursement under a different facility did not revive or cure the default. The default predated the Section 10A protection period, a valid financial debt and continuing default were established, and the Adjudicating Authority correctly admitted the petition under Section 7. Appeal dismissed. Case-Laws IBC Thu, 06 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781060