Information utility default records supported insolvency admission despite objections to photocopied loan documents and an undisputed default date.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Admission of the corporate insolvency resolution process may rest on an undisputed record of default filed with an information utility, together with other material establishing that the corporate debtor availed the loans. For a financial creditor's application, the adjudicating authority must ascertain default from information utility records or other evidence furnished. Where the debtor does not dispute the pleaded default date, objections that loan documents are photocopies do not invalidate admission. The challenge to admission was rejected and the writ petition was dismissed without costs.....