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2019 (9) TMI 1455 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Debt or not - existence of debt and dispute or not - HELD THAT:- This adjudicating Authority finds that the Corporate Debtor admits that debt and offered to settle the amount and his only grievance is in respect of amount. According to the Corporate Debtor, the amount is wrongly mentioned and the Corporate Debtor has not disputed about the debt. The application filed on behalf of financial creditor/Applicant under Section 7 of IBC is found complete. It further appears that there is default in non-payment of the debt owed by the corporate debtor, applicant has annexed sufficient evidence to show the default on behalf of the corporate debtor. Therefore application filed U/S 7 of IBC deserves to be admitted. Application admitted - moratorium declared.
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