https://www.taxtmi.com/caselaws?id=795313 Section 7 insolvency admission turns on the existence of financial debt, default and a complete application. Repeated opportunities to file pleadings, written submissions and make oral arguments satisfy natural justice; closure of oral submissions after non-utilisation of those opportunities does not make the proceedings ex parte. Unapproved compromise or arrangement proposals and ongoing settlement negotiations do not legally require deferment of insolvency admission. Undecided counterclaims, asserted receivables, prospective arbitral recoveries, commercial viability and business hardship do not displace an established default. The corporate insolvency resolution process remains available to pursue resolution while preserving the corporate debtor as a going concern. en-us Fri, 17 Jul 2026 00:00:00 +0530 Tue, 21 Jul 2026 08:32:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795313 Section 7 insolvency admission turns on the existence of financial debt, default and a complete application. Repeated opportunities to file pleadings, written submissions and make oral arguments satisfy natural justice; closure of oral submissions after non-utilisation of those opportunities does not make the proceedings ex parte. Unapproved compromise or arrangement proposals and ongoing settlement negotiations do not legally require deferment of insolvency admission. Undecided counterclaims, asserted receivables, prospective arbitral recoveries, commercial viability and business hardship do not displace an established default. The corporate insolvency resolution process remains available to pursue resolution while preserving the corporate debtor as a going concern. Case-Laws IBC Fri, 17 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795313