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2017 (8) TMI 1676 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHI PRINCIPAL BENCHMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - HELD THAT:- To fulfill the requirement of showing the record of default the Financial Creditor has annexed status classification report of corporate debtor dated 21.6.2017 issued by CIBIL. Copies of entries in Bankers book in accordance with the Bankers Book Evidence Act, 1891 showing the detail account of Corporate Debtor maintained by the State Bank of India have also been placed on record - The Financial Creditor in its capacity as trustee of other trusts has separately acquired financial assets and loan accounts of the Corporate Debtor to enable it to file claim for financial default on behalf of such other trusts for the financial assets acquired by such other trusts in accordance with the provision of sections 13 & 15 of the Code and to enable the Interim Resolution Professional to perform his duties envisaged under section 18(1) (b) of the Code. The Financial Creditor has proved by overwhelming evidence that default has occurred, which meets the requirement of Section 3(11) & (12) read with Section 7(3)(a) and Section 7(5) of the Code - the application is complete in all respects as the Insolvency Professional, Mr. Venkatesan Sankaranarayanan has also been proposed who has filed his written communication. Petition admitted - moratorium declared.
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