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2019 (9) TMI 960 - Tri - Insolvency and BankruptcyMaintainability of application - Initiation of CIRP - Corporate Debtor - Section 7 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Considering the provisions of Section 7 of the IB Code read with Rule 4 of the IB Rules and the information contained in Form-1, the application is complete in all respects. It is clear that it is settled law that at the stage of admission of application under Section 7 of IB Code, only the applicant Financial Creditor and the Respondent Corporate Debtor is required to be heard. No other person including a shareholder, an operational creditor, an employee, guarantor or even a director of the Corporate Debtor is separately required to be heard. Application disposed off.
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