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2019 (11) TMI 1571 - 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:- No evidence has been furnished to show that the details were filled in by the Financial Creditor after the Corporate Debtor executed the loan security documents and personal guarantee. The learned counsel for the Corporate Debtor has referred to a blast in dyeing house factory in August 2014 in the associate company of the Corporate Debtor. These facts are not relevant for the present case where the issue involved is whether a default has occurred. In Part-IV of Form-I, the bank has stated that the account was declared NPA on 31-12-2015. The fact that the account became NPA on 31-12-2015 is not disputed by the Corporate Debtor. Further, the Bank issued notice to the Corporate Debtor under section 13(2) of the SARFAESI Act on 4-2-2016 in which the outstanding dues of ₹ 35,94,27,831.52 were demanded. The occurrence of default in the present case is proved. We find that the application filed in the prescribed Form-I is complete. The proposed Interim Resolution Professional, Mr. Anup Sood has filed Form No. 2 (Pages 2 to 4 of CA No. 1103/2019) certifying that there are no disciplinary proceedings pending against him with the Board or Insolvency Professional Agency of ICAI. It is also stated that he is currently serving as Interim Resolution Professional and Resolution Professional in one case each - conditions provided for by Section 7(5)(a) of the Code being satisfied in the present case, we direct that the application for initiation of CIRP against M/s Anand Tex India Private Limited be admitted. Application admitted - moratorium declared.
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