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2019 (2) TMI 1852 - 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 - financial debt or not - HELD THAT:- Initially the Petitioner filed petition u/s 7, IBC claiming himself to be a Financial Creditor, but on perusal of the record it appears that the Petitioner has given notice u/s 9, IBC pretending himself to be an Operational Creditor. The Petitioner has not filed any document to substantiate its claim of being a Financial Creditor and debt as Financial Debt. Petitioner’s claim is totally based on the oral submission that he has given a credit to the Corporate Debtor, which is evident from the statement of account of Financial Creditor, from which amount has been transferred to the Operational Creditor’s account. It is pertinent to mention that only by transferring amount to the account of Corporate Debtor, a person cannot claim to be a Financial Creditor. There are no documents to prove a financial debt. Instead of opposing these contradictions, the Corporate Debtor has admitted the liability to pay. On perusal of the record, it appears that the petition is collusive - petition dismissed.
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