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2020 (2) TMI 1340 - Tri - Insolvency and BankruptcyMaintainability of petition - revision of accounts - section 131 of the Companies Act, 2013 - HELD THAT:- Considering the fact that Petitioners have been shown as unsecured related party creditors of in its Balance Sheet, which has not been challenged by the Corporate Debtor, this Adjudicating Authority is of the view that the Petitioners are Financial Creditors of the Corporate Debtor to the extent of financial debts admitted in the Book of Accounts of the Corporate Debtor. Accordingly, this Adjudicating Authority is inclined to admit the instant application filed under section 7 of the Code - The instant petition is hereby admitted and this Adjudicating Authority Orders the commencement of the Corporate Insolvency Resolution Process which shall ordinarily get completed as per the time line stipulated in section 12 of the 1B Code, 2016, reckoning from the day this order is passed. Petition admitted - moratorium declared.
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