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2017 (5) TMI 1634 - Tri - Insolvency and BankruptcyCorporate insolvency process - outstanding debt - financial debt - Held that:- There is no disciplinary proceedings pending against the Interim Resolution Professional, proposed by the Financial Creditor. This Petition was listed before this Adjudicating Authority on 12.5.2017. This Adjudicating Authority directed the Financial Creditor to issue Notice of hearing. Financial Creditor, in compliance with the directions of this Adjudicating Authority, issued Notice of date of hearing and filed proof of despatch. On 17.5.2017, i.e., on the date of hearing, none remained present on behalf of the Corporate Debtor. The debt due to the Financial Creditor is a 'Financial Debt'. The Petition is complete in all respects. The 'Financial Debt' is defined in sub-section (8) of Section 5 of the Code. In view of the above discussions, this Petition is admitted under Section 7 (5) of the Code.
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