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2020 (10) TMI 60 - 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:- The Financial Creditor has succeeded in proving that the debt is due and payable and the Corporate Debtor has failed to prove that the debt claimed by the Financial Creditor is not due and payable under any law or under any facts. The application is otherwise complete. All the requirements to be meted out under Section 7(3) of the Code seen produced in the case in hand - The Financial Creditor being succeeded in proving that all the requirements to be meted out under Section 7(3) of the Insolvency & Bankruptcy Code, 2016 has been meted out and that the claim of the Financial Creditor is not barred by law of limitation and that the debt is due and payable by the Corporate Debtor not been paid by the Corporate Debtor, this application is liable to be admitted. Application admitted - moratorium declared.
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