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2023 (4) TMI 1297 - Tri - Companies LawMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of dues or not - Debenture Trust Agreement - Financial debt or not - HELD THAT:- In view of the facts that the 'financial debt' which is proved by the Financial Creditor and the 'default' committed by the Corporate Debtor, this Tribunal is left with no other option than to proceed with the present case and initiate the Corporate Insolvency Resolution Process in relation to the Corporate Debtor. This Application is accordingly admitted in terms of Section 7 of the code. As a consequence of the Application being admitted in terms of Section 7 of the Code, moratorium as envisaged under provisions of Section 14(1) is declared - application allowed.
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