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2021 (3) TMI 1452 - NATIONAL COMPANY LAW TRIBUNAL AHMEDABADMaintainability of section 7 application - initiation of CIRP - default in paying the financial debt - debt which is due and payable, is barred by limitation or not - HELD THAT:- In view of the admission by the Corporate Debtor, there remains nothing further to be deliberated on. There is debt which is due and payable as it is not barred by limitation. The default has occurred in terms of provisions of Insolvency & Bankruptcy Code, 2016. The application is otherwise complete and defect free. The name of the IRP has been proposed whose consent is on record at Annexure-'C', hence, we appoint the same person as IRP against him no disciplinary proceedings are pending - application admitted. The application filed under Section 7 of the Insolvency & Bankruptcy Code, 2016 stands allowed.
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