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2021 (11) TMI 992 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - default made against the Credit facilities extended by the Banks - Personal Guarantor - existence of debt and dispute or not - HELD THAT:- In view of the clauses of the Deed of personal Guarantee, it is stated that the demand of the Respondent Bank is invoked and the continuous Deed of personal Guarantee executed by the Applicant is well within limitation and not barred. It is further averred by the Applicant/Debtor that no Application under this Chapter has been admitted in respect of the Applicant/Debtor during the period of 12 months preceding the date of submission of this Application. The Application under consideration is in the prescribed Form and contains the required details. Thus, prima facie the requirements of Section 94 are fulfilled. The Applicant or his Counsel and the Registry/Court Officer are directed to serve the copy of this Order along with copy of the Application and documents immediately on the Resolution Professional so appointed by all modes for information and compliance - List the matter on 15.12.2021.
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