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2019 (8) TMI 1580 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- The Respondent failed to avail the opportunity given by the Adjudicating Authority and also did not file any Statement of Objection to oppose alleged outstanding amount raised in the Company Petition. Therefore, it is deemed that the Corporate Debtor has nothing to oppose about the amount claimed by the Petitioner. The instant application is filed strictly in accordance with the extant provisions of the Code and debt and default is established by the Financial Creditor by submitting substantial evidence in support of the claim and also suggested a qualified Resolution Professional namely Shri Raghunathan Krishnasamy, with Registration No. IBBI/IPA-002/IP-N00419/2017-18/11200, who also filed written Consent in Form-2 dated 18.02.2019 and necessary declaration. Therefore the said IRP is eligible to be appointed as IRP in this case. Hence, the instant Company Petition is fit case to admit by initiating CIRP appointing by IRP, and declaring moratorium etc. in respect of the Corporate Debtor. Petition admitted - moratorium declared.
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