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2019 (5) TMI 1740 - NATIONAL COMPANY LAW TRIBUNAL, JAIPURMaintainability of application - initiation of CIRP - Corporate Debtor defaulted in making repayment - existence of default or not - HELD THAT:- The Corporate Debtor, despite notice has failed to make its appearance before this Tribunal and defend its cause against the petition as filed by the Financial Creditor claiming the defaulted amount. The records as filed by the petitioner clearly discloses that there is an existence of 'financial debt' and that the petitioner is a Financial Creditor taking into consideration the provisions of IBC, 2016 and of which the Corporate Debtor/respondent company has committed default - Under the circumstances, this Tribunal is of the view that the petition is required to be admitted and Corporate Insolvency Resolution Process (CIRP) to be initiated as against the Corporate Debtor. Application admitted.
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