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2019 (8) TMI 1141 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of Corporate Insolvency Resolution Process - Corporate Debtor failed to repay an amount - existence of Debt and Default - section 7 of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- When we have asked the Corporate Debtor counsel as to whether any defence is lying with the Corporate Debtor, he has not disputed the existence of debt and default. Since no defence has come from the Corporate Debtor side regarding existence of debt and default, we are of the considered view that it is a fit case for admission, whereby, this Bench hereby admits this Company Petition to initiate CIRP against the Corporate Debtor with the following directions by appointing Mr. R. Ragavendran as Interim Resolution Professional basing on the consent given by him. This Petition is admitted.
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