Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2019 (9) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (9) TMI 932 - Tri - Insolvency and BankruptcyMaintainability of application - Initiation of CIRP - Corporate Debtor defaulted in repayment of sum - existence of debt or not - HELD THAT:- It is apparent on record that debt is in existence, thereafter the Corporate Debtor failed to repay the loan amount by which the account has become NPA. There is no merit in the arguments of this Corporate Debtor counsel saying that Corporate Debtor made efforts to repay the OTS amount within the time limit as mentioned in the OTS sanction letter, whereby we hereby hold that the Creditor Bank established existence of debt and default by filing various documents executed by the Corporate Debtor - Petition admitted - moratorium declared.
|