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2020 (2) TMI 1125 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - default committed by the Corporate Debtor in making repayment of the amount as availed to the Corporate Debtor Company - Existence of debt and default - HELD THAT:- Since, the Corporate Debtor did not file any objection nor any adverse material is available on record that it did not receive the payment of loan amount through the RTGS in its account, which is rupees fifteen lakhs and the same is not refunded/returned by the Corporate Debtor as per the entered MOU, it is established that the Corporate Debtor availed unsecured loan of ₹ 15 Lakhs from the Petitioner/Financial-Creditor and has failed in making repayment of the same. Hence, the default is occurred. Hence, filing of this IB. Petition is found in order and is found complete. Therefore, the present I.B. Petition deserves for an admission with the following directions/observations. The date of admission of this petition is 04.12.2019. Petition admitted - moratorium declared.
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