https://www.taxtmi.com/caselaws?id=797655 Corporate insolvency resolution process admission requires the financial debt in default to meet the statutory threshold on the date of admission. Repayment of principal debt before that date reduced the outstanding amount below the prescribed limit. Because the financial creditors had received the payments but did not disclose them to the Adjudicating Authority, the threshold default prerequisite was absent when the insolvency application was admitted. The admission was therefore legally unsustainable and was set aside. en-us Tue, 25 Aug 2026 00:00:00 +0530 Wed, 26 Aug 2026 08:27:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797655 Corporate insolvency resolution process admission requires the financial debt in default to meet the statutory threshold on the date of admission. Repayment of principal debt before that date reduced the outstanding amount below the prescribed limit. Because the financial creditors had received the payments but did not disclose them to the Adjudicating Authority, the threshold default prerequisite was absent when the insolvency application was admitted. The admission was therefore legally unsustainable and was set aside. Case-Laws IBC Tue, 25 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797655