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2019 (2) TMI 1831 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- The application in Form 5 is complete in all respects - The petitioner-operational creditor has filed this petition in prescribed form after expiry of 10 days of service of demand notice and thereby, complying with the requirement of sub-sections (1) and (2) of Section 9 of the Code. The petitioner has also complied with various requirements of sub-clauses of sub-section (3) of Section 9 of the Code. The bank statement issued by Union Bank of India, where the petitioner is maintaining its account is also filed and there is also a certificate from the bank, Annexure A-7, to the effect that no credits have been received from the respondent in the account of the petitioner from March 2014 till 20.11.2017. All the ingredients of clause (i) of sub-section (5) of Section 9 of the Code stand fulfilled as the application is found to be complete in all respects - Petition admitted. The matter be now posted on 22.02.2019 for passing of formal order of declaration of moratorium and appointment of Interim Resolution Professional.
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