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2018 (2) TMI 1837 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - outstanding debt - HELD THAT:- This petition insofar the first petitioner is concerned it cannot be admitted but coming to the case of petitioners No. 2 and 3 they have got every right to trigger corporate insolvency resolution process because financial debt is due to them and there is occurrence of default. Moreover, the pendency of Company Petition filed by petitioners against the respondent company is not a ground to take a different view in this matter. The points that would come up for consideration is altogether different qua the rights of shareholders whereas in this petition the Adjudicating Authority has to see whether there is existence of financial debt and occurrence of default. Since these two things are satisfied, this petition in respect of petitioners No. 2 and 3 deserves to be admitted and it is accordingly admitted.
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