https://www.taxtmi.com/caselaws?id=788453 A written loan agreement is not an absolute prerequisite to prove financial debt under the Insolvency and Bankruptcy Code where bank statements, acknowledgements, promissory notes, TDS records, ledger entries and dishonoured cheques evidence disbursement, interest accrual and time value of money. Withdrawal of an earlier Section 7 petition without express liberty does not bar a fresh petition when breach of a settlement creates a new cause of action; res judicata principles do not prevent such a filing. Where the record establishes debt and default, the Section 7 application should be admitted, and technical objections cannot defeat CIRP initiation. en-us Thu, 19 Mar 2026 00:00:00 +0530 Mon, 23 Mar 2026 08:49:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788453 A written loan agreement is not an absolute prerequisite to prove financial debt under the Insolvency and Bankruptcy Code where bank statements, acknowledgements, promissory notes, TDS records, ledger entries and dishonoured cheques evidence disbursement, interest accrual and time value of money. Withdrawal of an earlier Section 7 petition without express liberty does not bar a fresh petition when breach of a settlement creates a new cause of action; res judicata principles do not prevent such a filing. Where the record establishes debt and default, the Section 7 application should be admitted, and technical objections cannot defeat CIRP initiation. Case-Laws IBC Thu, 19 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788453