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2019 (3) TMI 1751 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and default - whether the application/petition filed is complete with supported evidence ; debt and default established ; suggested a qualified resolution professional to appoint as interim resolution professional, etc.? - HELD THAT:- On perusal of the instant company petition along with material documents filed and the objections raised by the respondents as briefly stated supra, and the law as cited above, we are satisfied that the instant company petition is filed by Dena Bank (financial creditor), under section 7 of the IBC, 2016 strictly in accordance with law, with substantial evidence produced in support of debt and default as per the bank statement. This is a fit case to initiate CIRP as prayed for. Petition admitted - moratorium declared.
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