https://www.taxtmi.com/caselaws?id=794958 Section 7 insolvency proceedings remain valid where they were initiated independently of an invalidated RBI circular, including where the financial creditor had recalled the loan and commenced recovery action before the circular. The article states that admission to CIRP ordinarily follows once financial debt and default are established. The narrow Vidharbha exception applies only where an adjudicated and realisable claim exceeding the debt owed justifies withholding admission; alleged government dues without that character do not suffice. In the absence of an approved settlement proposal, CIRP admission was upheld, while the Resolution Professional was directed to consider farmers' claims in accordance with law. en-us Mon, 13 Jul 2026 00:00:00 +0530 Wed, 15 Jul 2026 08:22:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794958 Section 7 insolvency proceedings remain valid where they were initiated independently of an invalidated RBI circular, including where the financial creditor had recalled the loan and commenced recovery action before the circular. The article states that admission to CIRP ordinarily follows once financial debt and default are established. The narrow Vidharbha exception applies only where an adjudicated and realisable claim exceeding the debt owed justifies withholding admission; alleged government dues without that character do not suffice. In the absence of an approved settlement proposal, CIRP admission was upheld, while the Resolution Professional was directed to consider farmers' claims in accordance with law. Case-Laws IBC Mon, 13 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794958