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2020 (3) TMI 485 - Tri - Insolvency and BankruptcyMaintainability of Application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and default or not - HELD THAT:- The consideration under Section 7 of Insolvency and Bankruptcy Code, 2016 is whether the Financial Creditor can start Corporate Insolvency Resolution Process of the Corporate Debtor. The applicant has established that the loan amount was given and availed by the Corporate Debtor and there is an outstanding of ₹ 13.41 Crores due and payable by the Corporate Debtor and the Corporate Debtor has committed default in repayment of the amount. The debt and the default are proved. The application is admitted - moratorium is declared.
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