Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (3) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 23 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- Since most of the exposure of the Respondent company was by way of consortium finance, and there is no bar for the applicant to approach this Hon'ble Tribunal for initiating resolution process without seeking consent of other lenders. There is sufficient evidence to prove default. The applicant has specified the name of the resolution professional and has annexed Form 2, the consent of the proposed IRP to the application accordingly. Petition admitted - moratorium declared.
|