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2018 (4) TMI 1748 - NATIONAL COMPANY LAW TRIBUNAL, MUMBAIMaintainability of application - initiation of CIRP - Corporate Debtor - commitment of default - outstanding-financial debt or not - HELD THAT:- Due to the default of repayment of loan the IDBI Bank issued a "Notice of recalling" loans dated 12th June.?014. In the said "Notice of recall" the loan agreements entered into and various facilities granted along with Rupee Term Loan agreement was discussed and finally communicated that since the default of non-payment committed by the corporate debtor, the Bank has become entitled to "Recall" its entire Principal amount and Interest-amount outstanding against the Debtor. All the facts have duly established the Debt due against the "Financial Debtor" as well as the default committed in non-payment. Since the 'default' in repayments is established, the Petition deserves to be "Admitted" - petition admitted - moratorium declared.
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