https://www.taxtmi.com/caselaws?id=785839 In a section 7 insolvency context, financial debt and default were treated as established on the basis of loan documents, security papers, account statements, and an authenticated default record, and the corporate debtor's acknowledgement of non-payment reinforced that finding. Once default above the statutory threshold was shown, admission of the application followed. The debtor's MSME restructuring request did not bar or defer admission because the restructuring framework required cooperation with stock audit and inspection, and the record showed repeated non-cooperation and silence to audit-related communications. The belated restructuring plea was therefore not accepted as a basis to stop CIRP admission, and the admission order was affirmed. 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 In a section 7 insolvency context, financial debt and default were treated as established on the basis of loan documents, security papers, account statements, and an authenticated default record, and the corporate debtor's acknowledgement of non-payment reinforced that finding. Once default above the statutory threshold was shown, admission of the application followed. The debtor's MSME restructuring request did not bar or defer admission because the restructuring framework required cooperation with stock audit and inspection, and the record showed repeated non-cooperation and silence to audit-related communications. The belated restructuring plea was therefore not accepted as a basis to stop CIRP admission, and the admission order was affirmed. Case-Laws IBC Fri, 30 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785839