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2019 (11) TMI 1213 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor has defaulted in its repayments - debt due and payable or not - section 7 of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- It is abundantly clear that the present petition under section 7 of the 1B Code has been filed solely and exclusively in the background and in pursuance of RBI Circular dated Even the last date for filing of petition under 1B Code has been discussed and mentioned in Minutes dated 30.11.2018 making it clear that compliance of RBI Circular dated 12.02.2018 was very much in the mind of Financial Creditor. Accordingly, the present petition under section 7 of the Code has been filed on 06.12.2018 i.e. just five days before the date of 11.12.2018. The present petition filed by financial creditor under section 7 of the Code is solely filed in pursuance of RBI Circular dated 12.02.2018 - the present petition filed under section 7 of the 1B Code deserves to be dismissed - Petition dismissed.
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