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2019 (8) TMI 1657 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - corporate debtor committed default in repayment of facilities granted to the corporate debtor - existence of debt and dispute or not - HELD THAT:- The petitioner enclosed the statement of account for the loan wherein it was found that the amount claimed in the petition is as per the statement of account. The statement of account further reveals that there are defaults in payment of dues - On various occasions various opportunities had been given to the corporate debtor to repay its creditors. However, despite these opportunities the corporate debtor failed in making the payments. This Adjudicating Authority, on perusal of the documents filed by the creditor, is of the view that the corporate debtor defaulted in repaying the loan availed and also placed the name of the insolvency resolution professional to act as interim resolution professional and there being no disciplinary proceedings pending against the proposed resolution professional, therefore the application under sub-section (2) of section 7 is taken as complete, accordingly this Bench hereby admits this petition - Petition admitted - moratorium declared.
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