https://www.taxtmi.com/highlights?id=96138 Admission into insolvency resolution was upheld where the creditor showed existence of financial debt and occurrence of default; the court confined the mandatory inquiry to these elements, found admitted defaults and breach of restructuring sufficient, and rejected the narrow Vidarbha exception as inapplicable, resulting in initiation of CIRP. A homebuyers' society lacked locus to intervene or appeal because pre-admission proceedings are in personam, the society was neither a financial nor operational creditor and produced no representative mandate, therefore it had no statutory right to be heard and no appellate standing. en-us Mon, 19 Jan 2026 07:36:44 +0530 Mon, 19 Jan 2026 07:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96138 Admission into insolvency resolution was upheld where the creditor showed existence of financial debt and occurrence of default; the court confined the mandatory inquiry to these elements, found admitted defaults and breach of restructuring sufficient, and rejected the narrow Vidarbha exception as inapplicable, resulting in initiation of CIRP. A homebuyers' society lacked locus to intervene or appeal because pre-admission proceedings are in personam, the society was neither a financial nor operational creditor and produced no representative mandate, therefore it had no statutory right to be heard and no appellate standing. Highlights IBC Mon, 19 Jan 2026 07:36:44 +0530 https://www.taxtmi.com/highlights?id=96138