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2021 (4) TMI 1120 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate DEbtor failed to make repayment of its dues - Operational Creditor - existence of debt and dispute or not - HELD THAT:- It is apparent from the record that parties have filed the consent terms dated 24.10.2019. However, Corporate Debtor failed to honor the said consent term and further expressed its inability to pay the said debt - This Adjudicating Authority is further satisfied that the Operational Creditor has proved its case by placing evidence that default has occurred for which the Corporate Debtor was liable to pay. The Operational Creditor has also placed on record of proof of sending notices to the Respondent/Corporate Debtor for their appearance and for making submissions also along with the requirements as stipulated under the provisions of the IB Code, 2016 for the purpose of initiating Corporate Insolvency Resolution Process. In these circumstances, having satisfied with the submissions made by the Petitioner/Operational Creditor, this Adjudicating Authority is inclined to admit the instant Application. Application admitted - moratorium declared.
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