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2019 (11) TMI 1369 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - outstanding towards the Corporate-Debtor - HELD THAT:- It is noted that three balance-sheets referred by the learned Counsel for the Financial-Creditor clearly demonstrate that the amount claimed is outstanding towards the Corporate-Debtor and there is no proof of repayment as claimed by the learned Counsel for the Corporate-Debtor. The documentary evidence produced by the Financial-Creditor is supported by the accounts statement of the Financial-Creditor. The defence that has been advanced by the learned Counsel for the Corporate-Debtor in manifold does not rebut the evidence with regard to the outstanding amount claimed by the Financial-Creditor. Therefore, the defence that has been raised appears to be hollow, mere bluster and is after thought. In view of it, the defence raised by the Corporate-Debtor stands rejected. The Documentary evidence placed on record by the Financial creditor is sufficient in order to ascertain the default on the part of the Corporate Debtor. Therefore, the Financial-Creditor has fulfilled all the requirements of law including the name proposed for appointment of IRP after obtaining consent in Form-2. Thus, the Application stands admitted. The commencement of the Corporate Insolvency. Resolution Process is ordered which ordinarily shall get completed within 180 days, reckoning from the day this order is passed. Application admitted - moratorium declared.
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