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2018 (3) TMI 1819 - NATIONAL COMPANY LAW TRIBUNAL, MUMBAIMaintainability of petition - initiation of CIRP - Corporate Debtor unable to make repayment - existence of debt and default - HELD THAT:- This Bench is of the view that the corporate debtor has committed default and the petition contains the particulars as required u/S 10 Of the Code. Having satisfied with the Corporate Debtor could not pay/discharge its debt to the abovesaid Financial Creditors and having satisfied with the proposed IRP is also eligible to act as Interim Resolution Professional in the instant case, accordingly, Adjudicating Authority admits the Application for initiation of CIRP under Section 10 of the Code and also imposes the moratorium - petition admitted - moratorium declared.
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