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2019 (10) TMI 1251 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment - existence of debt and dispute or not - HELD THAT:- The Allahabad Bank has assigned these loans to this applicant under the Deed of dated Registration No. BDRI-8205-2017, filed and marked as "Exhibit L" along with the application. The applicant has also filed statement of accounts and annexed as "Exhibit G". The applicant states that sum of ₹ 28,64.67,561/- is due and payable from the Corporate Debtor to the applicant. All the loan documents are also filed along with this application - There is nothing on record to show that pending against proposed IRP. The debt and default are proved beyond reasonable doubts. The application filed by the Financial Creditor under Section 7 of the Insolvency & Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against the Corporate Debtor M/s RK. Jain Construction (India) Pvt. Ltd. is hereby admitted - Moratorium is declared for the purposes referred to in Section 14 of the Insolvency & Bankruptcy Code, 2016.
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