https://www.taxtmi.com/highlights?id=97186 Interpretation of loan agreement clauses treated monthly interest payable in advance as an event of default, so non-payment of interest triggers default and permits the lender to accelerate the debt and demand principal notwithstanding the stated loan term; a clause delaying sale of mortgaged property does not bar acceleration on interest default. Because interest remained unpaid, the petition under the insolvency law was properly admitted and remitted for further proceedings at the tribunal. The appellate tribunal set aside the impugned dismissal and directed listing before the adjudicating authority for continuation of the Section 7 process. en-us Thu, 26 Feb 2026 07:35:37 +0530 Thu, 26 Feb 2026 07:35:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97186 Interpretation of loan agreement clauses treated monthly interest payable in advance as an event of default, so non-payment of interest triggers default and permits the lender to accelerate the debt and demand principal notwithstanding the stated loan term; a clause delaying sale of mortgaged property does not bar acceleration on interest default. Because interest remained unpaid, the petition under the insolvency law was properly admitted and remitted for further proceedings at the tribunal. The appellate tribunal set aside the impugned dismissal and directed listing before the adjudicating authority for continuation of the Section 7 process. Highlights IBC Thu, 26 Feb 2026 07:35:37 +0530 https://www.taxtmi.com/highlights?id=97186