https://www.taxtmi.com/caselaws?id=784361 A pending or conditional one-time settlement proposal does not bar a financial creditor from invoking section 7 of the Insolvency and Bankruptcy Code where debt and default are admitted. Repeated settlement and restructuring communications can operate as acknowledgments of liability in writing, extending limitation for the section 7 application. Internal consortium arrangements do not curtail the statutory right of a single financial creditor to initiate insolvency proceedings independently, and the absence of consent from other lenders is not a ground to reject the petition. en-us Wed, 03 Sep 2025 00:00:00 +0530 Sat, 03 Jan 2026 08:03:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784361 A pending or conditional one-time settlement proposal does not bar a financial creditor from invoking section 7 of the Insolvency and Bankruptcy Code where debt and default are admitted. Repeated settlement and restructuring communications can operate as acknowledgments of liability in writing, extending limitation for the section 7 application. Internal consortium arrangements do not curtail the statutory right of a single financial creditor to initiate insolvency proceedings independently, and the absence of consent from other lenders is not a ground to reject the petition. Case-Laws IBC Wed, 03 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784361