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2019 (9) TMI 796 - Tri - Insolvency and BankruptcyAdmissibility of petition - Initiation of CIRP - Corporate Debtor - Section 7 of the Insolvency and Bankruptcy Code, 2016 r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 - unpaid amount claimed by the Applicant/Financial Creditor from the Corporate Debtor - Financial Debt or not - time limitation. HELD THAT:- The evidence placed on record is sufficient to ascertain the default on the part of the Corporate Debtor, which the Corporate Debtor could not rebut. The Financial Creditor has fulfilled all the requirements of law including the name proposed for appointment of IRP after obtaining consent in Form-2. Therefore, the Application stands admitted. 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. Application admitted - moratorium declared.
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