https://www.taxtmi.com/caselaws?id=792692 Admission under Section 7 of the Insolvency and Bankruptcy Code was sustained because the loan disbursement was undisputed and the record showed repeated acknowledgements of liability and continuing non-payment. Settlement discussions, partial payments, proposed restructuring, and unadjudicated counterclaims did not negate the existence of default for insolvency admission. The same reasoning applied to the corporate guarantor, as default by the principal borrower stood established and a recall notice had also been issued, so there was no ground to interfere with admission against the guarantor. Both appeals were rejected. en-us Fri, 29 May 2026 00:00:00 +0530 Tue, 02 Jun 2026 08:47:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792692 Admission under Section 7 of the Insolvency and Bankruptcy Code was sustained because the loan disbursement was undisputed and the record showed repeated acknowledgements of liability and continuing non-payment. Settlement discussions, partial payments, proposed restructuring, and unadjudicated counterclaims did not negate the existence of default for insolvency admission. The same reasoning applied to the corporate guarantor, as default by the principal borrower stood established and a recall notice had also been issued, so there was no ground to interfere with admission against the guarantor. Both appeals were rejected. Case-Laws IBC Fri, 29 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792692