https://www.taxtmi.com/caselaws?id=782091 In Section 7 insolvency proceedings, the adjudicating authority confined its inquiry to whether a financial debt existed and whether default had occurred. The record of restructuring, overdue interest, recall of the facility, NPA classification, information utility entries, balance sheets, auditor's reports and account statements established continuing default, so admission was justified. Allegations that default was contrived by conduct of a third party, including escrow and concession-related disputes, could not displace the statutory finding of default, because the cause of default is not examined at this stage. Termination of the concession agreement and any contingent termination payment did not extinguish the borrower's liability to the lender or bar insolvency admission. en-us Thu, 20 Nov 2025 00:00:00 +0530 Tue, 25 Nov 2025 08:55:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782091 In Section 7 insolvency proceedings, the adjudicating authority confined its inquiry to whether a financial debt existed and whether default had occurred. The record of restructuring, overdue interest, recall of the facility, NPA classification, information utility entries, balance sheets, auditor's reports and account statements established continuing default, so admission was justified. Allegations that default was contrived by conduct of a third party, including escrow and concession-related disputes, could not displace the statutory finding of default, because the cause of default is not examined at this stage. Termination of the concession agreement and any contingent termination payment did not extinguish the borrower's liability to the lender or bar insolvency admission. Case-Laws IBC Thu, 20 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782091