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2018 (2) TMI 2046 - NATIONAL COMPANY LAW TRIBUNAL, SINGLE BENCH, CHENNAIMaintainability 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: It has been ascertained that the Corporate Debtor havedefaulted in making payment of the outstanding debt. The Financial Creditor has fulfilled all the requirements of law and has also proposed the name of IRP after obtaining the written consent in Form-2. Therefore, petition is admitted and the commencement of the Corporate Insolvency Resolution Process is ordered which ordinarily shall get completed within 180 days, reckoning from the day this order is passed. Petition admitted - moratorium declared.
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