https://www.taxtmi.com/caselaws?id=785839 Adjudicating Authority's sole task in a Section 7 petition is to verify whether a financial default occurred; here the financial creditor's Part-IV particulars established a default and justified admission of insolvency proceedings. The corporate debtor repeatedly refused stock and book audits and failed to cooperate with restructuring efforts by the creditor; that belated offer to permit audit only after IRP takeover did not negate the earlier non-cooperation. For these reasons the AA's initiation of CIRP was upheld and the appeal against admission was dismissed. en-us Fri, 30 Jan 2026 00:00:00 +0530 Mon, 02 Feb 2026 08:20:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785839 Adjudicating Authority's sole task in a Section 7 petition is to verify whether a financial default occurred; here the financial creditor's Part-IV particulars established a default and justified admission of insolvency proceedings. The corporate debtor repeatedly refused stock and book audits and failed to cooperate with restructuring efforts by the creditor; that belated offer to permit audit only after IRP takeover did not negate the earlier non-cooperation. For these reasons the AA's initiation of CIRP was upheld and the appeal against admission was dismissed. Case-Laws IBC Fri, 30 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785839