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2017 (9) TMI 1768 - Tri - Insolvency and BankruptcyCorporate insolvency resolution process - corporate debtor availed of loan facilities and thereafter having failed to repay the debt as per terms and agreements between them - Held that:- The petitioner counsel filed certified copy of resolution dated July 14, 2017 reaffirming the Authority already given with an additional power to proceed under the I and B Code as well, therefore we have not found substance in the objection raised by the corporate debtor in respect to authority for filing this case. Moreover, the power of attorney holder is in the rank of chief manager of the Bank of Baroda, so it cannot be said that attorney-holder position is not sufficient enough to file this company petition, hence the objection raised by the corporate debtor is hereby rejected. Since the details and document given by the petitioner are ample enough to prove the existence of debt and occurrence of default, this company petition is hereby admitted.
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