2021 (4) TMI 298 - NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH-II CHENNAI - Insolvency & Bankruptcy

Head Note / Extract:
Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Dues - existence of debt and dispute or not - HELD THAT:- The Financial Creditor has proved existence of debt and default and there being no denial from the Corporate Debtor with respect to outstanding due against the Corporate Debtor, the application stands admitted - Petition is admitted - moratorium declared.