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2018 (4) TMI 1441 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - existence of dispute - Held that:- It is un disputably proved beyond doubt that there is no dispute about default in question. The contentions of the respondent with regard to other lenders are not substantiated by other Banks by filing any supporting affidavits except participating in JLF meetings as averred by the respondents. The respondent has a right to bring to the notice of Reserve Bank of India about the alleged violations of petitioner in not adhering to its guidelines. The respondent did not appear to have taken such course of action. On the contrary, the petitioner has time and again reiterated that it has every mandate to initiate the instant CIRP, and it has initiated the instant proceedings strictly in accordance with law. As several contentions raised by the respondent hardly have any relevance to the issue in question, they are not being adverted here, and they are deemed to have rejected. We are of considered view that default in question has occurred and the instant petition/application is complete as per sub-section 2 and there is no disciplinary proceedings pending against the proposed resolution professional so as to admit the case under section 7(5)(a) of IBC,2016. The proposed Interim professional has also filed Form No.2 on 16-09-2017. By invoking powers conferred on the Adjudicating Authority u/ss 7,10,12,13,14,15,16, 17, 18, 19, 20, 21, 22 and 25 and other applicable provisions of the Insolvency and Bankruptcy Code, 2016, the Company Petition is hereby admitted
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