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2020 (1) TMI 1254 - 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 - time limitation - HELD THAT:- The learned lawyer appearing on behalf of the respondent company filed an additional affidavit admitting the total amount as claimed in the petition. That, the documents filed along with the application is sufficient to prove that there exists financial debt and the application is not barred by limitation. The Adjudicating Authority is of the considered view that there is debt due to "financial creditors" and there is default on the part of the corporate debtor - the application is complete in all respects and is to be admitted. Petition admitted - moratorium declared.
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