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2018 (5) TMI 643 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - outstanding debt - Held that:- The Operational Creditor has complied with Section 9(3)(b)&(c) of the I&B Code, 2016, by filing Affidavit wherein, it has been deposed that the Operational Creditor has not received any notice of dispute regarding the pending amount from the Corporate Debtor. The Bank certificate issued by the Axis Bank dated 22.08.2017 has also been placed on record which is placed at page 81 of the typed set filed with the Application. The Operational Creditor has fulfilled all the requirements of law for admission of the Application. This Authority is satisfied that the Corporate Debtor has committed default in making payment of the outstanding debt claimed by the Operational Creditor. Therefore, appliction is admitted and the commencement of the Corporate Insolvency Resolution Process is ordered which ordinarily shall get completed within 180 days, reckoning from the day this order is passed. The moratorium is declared which shall have effect from the date of this Order till the completion of Corporate Insolvency Resolution Process.
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