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2019 (8) TMI 1480 - 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:- On perusal of the documents submitted on record, there is a debt due and payable by the Corporate Debtor to the Applicant. The outstanding amount that is in default is more than ₹1,00,000/- - the debt and default of more than ₹1,00,000/- is established and the application is complete in all respects - the objection of the Corporate Debtor regarding the insufficient authorisation of the Assistant General Manager of the applicant Bank to file the present application is not tenable. The Application under sub-section (2) of Section 7 of I&B Code, 2016 filed by the financial creditor for initiation of CIRP in prescribed Form No1, as per the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 is complete - Application admitted - moratorium admitted.
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