2017 (2) TMI 1466 - ADJUDICATING AUTHORITY (NCLT) AMEDABAD - Insolvency & Bankruptcy

Head Note / Extract:
Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- In the case on hand it is held that petitioner is financial creditor. It is also held that the amount due to the petitioner from the respondent is financial debt. There is also occurrence of default in repayment of financial debt. The petition filed by the petitioner is complete in all respects. Hence this application is admitted. Application admitted - moratorium declared.