https://www.taxtmi.com/caselaws?id=787017 The article addresses whether informal restructuring communications can prevent admission of a petition under the Insolvency and Bankruptcy Code where the Debenture Trust Deed (DTD) prescribes a written amendment/waiver procedure. It explains that clause-based DTD requirements for express written consent and prescribed meeting/resolution processes cannot be bypassed by unilateral or informal exchanges with a single debenture holder; such communications do not negate existence of financial debt or default. The operative effect: failure to comply with the DTD amendment procedure does not bar Section 7 admission, and the challenged refusal to admit was set aside with the petition restored. en-us Tue, 24 Feb 2026 00:00:00 +0530 Wed, 25 Feb 2026 07:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787017 The article addresses whether informal restructuring communications can prevent admission of a petition under the Insolvency and Bankruptcy Code where the Debenture Trust Deed (DTD) prescribes a written amendment/waiver procedure. It explains that clause-based DTD requirements for express written consent and prescribed meeting/resolution processes cannot be bypassed by unilateral or informal exchanges with a single debenture holder; such communications do not negate existence of financial debt or default. The operative effect: failure to comply with the DTD amendment procedure does not bar Section 7 admission, and the challenged refusal to admit was set aside with the petition restored. Case-Laws IBC Tue, 24 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787017