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2019 (11) TMI 1640 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - Existence of debt and dispute or not - HELD THAT:- It is evident that CIR process against the Horizon Concept Pvt. Ltd (HCPL) initiated by this Tribunal is in the matter of RICHA SATSANGI & ANR. VERSUS M/S HORIZON CONCEPT PVT. LTD. [2019 (10) TMI 1440 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHI BENCH]. Clearly, the Financial Creditors in that Petition are different namely, Richa Satsangi & Anr. than the Financial Creditor in the current Petition. Further, the Financial Creditor in the current petition has given an undertaking that he has not submitted his claim with the IRP appointed in the case of M/s Horizon Concept Pvt. Ltd. The Financial Creditor has established the default on the part of the Corporate Debtor in payment of the Financial Debt. The present Petition being complete and the amount of default being above ₹ 1,00,000, the Petition is admitted in terms of Section 7 (5) of the IBC and accordingly, moratorium is declared in terms of Section 14 of the Code - Petition admitted.
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