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2019 (11) TMI 1641 - 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 appeared from the records that the Corporate Debtor had sought several adjournments for settlement from 30.09.2019 to 28.11.2019. The Financial Creditors wanted CIRP to be initiated against the corporate debtor without further delay. As there is a default in the payment of the financial debt, which has been agreed by the Corporate Debtor before this Bench, the present application filed by the financial Creditor is satisfying all the definitions of “Financial Creditor”, “Default” and “Financial Debt” and qualifies for filing an application under Insolvency and Bankruptcy Code. The application filed on behalf of Financial Creditor is complete - Application admitted - moratorium declared.
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