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2017 (4) TMI 1350 - NATIONAL COMPANY LAW TRIBUNAL, BENGALURUCorporate insolvency process - occurrence of default - Held that:- This Bench is satisfied that the corporate debtor failed to discharge the liability mentioned in this Company Petition filed by the operational creditor under section 9 of Insolvency and Bankruptcy Code, 2016 resulting occurrence of default for an amount of ₹ 1,18,34,618.66/-. Hence, this Bench admits this Petition under section 9 of Insolvency and Bankruptcy Code, 2016 declaring moratorium for the purposes referred to in section 14 of the code.
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