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2018 (1) TMI 1248 - Tri - Insolvency and BankruptcyCorporate insolvency resolution process - Held that:- The existence of default has been shown from abundant evidence on record. The corporate debtor in the reply is not denying that it is in default of payment to the Bank. The above is the requirement of the aforesaid provisions for enabling the Adjudicating Authority to admit the petition. I find that the application filed by the Financial Creditor in Form No.1 is complete in all respects. Therefore, the instant petition deserves to be admitted.
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