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2021 (8) TMI 211 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - HELD THAT:- In view of specific admission of the debt and the liability to pay, as evidenced by the settlement deed executed by the respondent-corporate debtor and filed before this Adjudicating Authority, the petition is admitted for initiation of the CIR Process in the case of the Corporate Debtor, M/s. K.C. Land & Finance Ltd. and it is also directed that the moratorium to take effect and Interim Resolution Professional to be appointed. Application admitted - moratorium declared.
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