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2019 (7) TMI 1021 - Tri - Insolvency and BankruptcyAdmissibility of petition - initiation of Corporate Insolvency Resolution Process (CIRP) - default in repayment of loan amount by the corporate debtor to the applicant - section 7 of the Insolvency and Bankruptcy Code, 2016 read with rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 - HELD THAT:- The corporate debtor has neither denied nor disputed the loan facilities given by the Reliance Capital Ltd. The corporate debtor has not brought forward any record with respect to the payment being made of the "debt" as claimed in the application. The only defence raised by the corporate debtor is with respect to two technical points : (i) the status of applicant is disputed as the financial creditor, (ii) the authority to file the present application is defective. Jurisdiction - HELD THAT:- The registered office of the corporate debtor is situated within the territorial jurisdiction of this Tribunal. Hence this Tribunal has jurisdiction to entertain and try this application. This application is complete and is admitted.
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