https://www.taxtmi.com/caselaws?id=795309 A partnership firm may validly authorise a Section 7 insolvency application through a majority of surviving partners where its deed preserves the firm after a partner's death and does not admit the deceased partner's legal representative as a partner. A partner may institute proceedings in the firm's name, and objections to the internal majority decision belong before the competent civil forum. Although the corporate debtor's records established a repayable debt, absence of a formal loan agreement or interest clause did not negate it. The application remained barred because limitation ran from the last ascertainable transaction, and an unsupported later default date could not extend that period. 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=795309 A partnership firm may validly authorise a Section 7 insolvency application through a majority of surviving partners where its deed preserves the firm after a partner's death and does not admit the deceased partner's legal representative as a partner. A partner may institute proceedings in the firm's name, and objections to the internal majority decision belong before the competent civil forum. Although the corporate debtor's records established a repayable debt, absence of a formal loan agreement or interest clause did not negate it. The application remained barred because limitation ran from the last ascertainable transaction, and an unsupported later default date could not extend that period. Case-Laws IBC Fri, 17 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795309