Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2019 (5) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (5) TMI 329 - Tri - Insolvency and BankruptcyInitiation of Corporate Insolvency Resolution Process - default in repayment of amount as against the loans availed by the Corporate Debtor - Section 7 of the Insolvency & Bankruptcy Code - HELD THAT:- In view of the reasons aforementioned and the material furnished by the Creditor Bank, the Tribunal observes that there is a debt due and payable by the Corporate Debtor and that a default has occurred which the Corporate Debtor was responsible to pay. Therefore, we are of the opinion that the Applicant Bank has established that the amount in default committed by the Corporate Debtor is a fact and it is supported by the documentary evidence placed before this Adjudicating Authority. It is a fit case for admission - moratorium declared.
|