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2019 (5) TMI 330 - Tri - Insolvency and BankruptcyInitiation of Corporate Insolvency Resolution Process - Financial Creditor - Section 7 of Insolvency and Bankruptcy Code - HELD THAT:- The Corporate Debtor did not dispute the existence of "financial debt" and its "default" by them. These are only two facts required to be seen by this Adjudicating Authority while admitting the CIRP under Section 7 of Insolvency and Bankruptcy Code. In this case, Corporate Debtor admitted both the facts. The Financial Creditor suggested name of Mr. Rajesh Kumar Agarwal for appointment of Interim Resolution Professional. There is nothing on record to show that Mr. Rajesh Kumar Agarwal is facing any disciplinary enquiry at present. Since the application filed by the Financial Creditor is defect free. The application filed by the Financial Creditor under section 7 of the Insolvency & Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against the Corporate Debtor, M/s. Divine Alloys & Power Co. Ltd. is hereby admitted - moratorium and public announcement in accordance with Sections 13 and 15 of the IBC, 2016 declared.
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