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2018 (6) TMI 1622 - THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCHInitiation of Corporate Insolvency Resolution Process - Corporate Debtor - Default in repayment of outstanding loan - HELD THAT:- This Bench is satisfied that the debt is in existence against the corporate Debtor and that the corporate Debtor has defaulted in making repayment of the claim amount mentioned in this company Petition despite hectic efforts were made by the petitioner to get back the due outstanding against the corporate Debtor, for nothing has been worked out, the petitioner proceeded against this corporate Debtor under Section 7 of Insolvency & Bankruptcy, 2016. This Petition is admitted - The Registry is hereby directed to communicate this order to both the parties within seven days from the date order is made available.
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