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2019 (12) TMI 1140 - NATIONAL COMPANY LAW TRIBUNAL, CUTTACKMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment - outstanding amount due and payable to applicant - HELD THAT:- The Corporate Debtor availed various financial facilities like working capital, term loan, current account etc with the applicant since 2012. The Corporate Debtor also executed various loan documents in favour of the applicant in July 2014, April, 2015 and March, 2017. However, the Corporate Debtor was unable to repay loan hence, the loan accounts were declared as non-performing asset on 13.03.2018. The loans are secured by way of hypothecation of movables and mortgage of immovable properties - The loan documents and acknowledgement of debt are filed along with the application. The loan account was declared as non-performing asset on 13.03.2018. Further, claim is also pending in the file of DRT Jabalpur. Hence, the debt is well within the period of limitation. The registered office of the Corporate Debtor is at Raipur, Chhattisgarh. Hence, this Adjudicating Authority has jurisdiction - The outstanding amount due and payable to applicant is sum of ₹ 10,26,54000/- as on 31.03.2018. The debt and default are proved beyond reasonable doubts. Hence, we are inclined to ADMIT this application. Application admitted - moratorium declared.
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