Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (2) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (2) TMI 1543 - 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:- The application is complete in all respect and the financial debt and default thereof is fully proved on record. The Corporate Debtor has failed to repay its debt owed to the financial Creditor. On the other hand, the Ld. Counsel for the Corporate Debtor has unsuccessfully argued on the various points raised in the reply which have not been found to be convincing. The net result, therefore is that the facts and circumstances proves undoubtedly default in repayment of the debt found due and payable by the corporate debtor, the present application of the Financial Creditor deserves to be admitted. Application admitted - moratorium declared.
|