https://www.taxtmi.com/caselaws?id=468378 Limitation for a section 7 insolvency application was computed from the date of default after excluding periods covered by the original lender's insolvency process under section 60(6), the Supreme Court's COVID-19 limitation extension, and a prior insolvency process involving the corporate debtor; the application was therefore within time. The record also showed financial debt, repeated default, and an amount above the statutory threshold, satisfying the requirement that the adjudicating authority verify debt and default in a complete section 7 petition. On that basis, the petition was admitted, corporate insolvency resolution process was initiated, and moratorium consequences followed. en-us Wed, 22 Jan 2025 00:00:00 +0530 Sat, 02 May 2026 19:50:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468378 Limitation for a section 7 insolvency application was computed from the date of default after excluding periods covered by the original lender's insolvency process under section 60(6), the Supreme Court's COVID-19 limitation extension, and a prior insolvency process involving the corporate debtor; the application was therefore within time. The record also showed financial debt, repeated default, and an amount above the statutory threshold, satisfying the requirement that the adjudicating authority verify debt and default in a complete section 7 petition. On that basis, the petition was admitted, corporate insolvency resolution process was initiated, and moratorium consequences followed. Case-Laws IBC Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468378