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2021 (8) TMI 760 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - time limitation - HELD THAT:- The petitioners being the debenture holders, their claims squarely falls within the definition ‘Financial Debt’. When once the debt and default are established and the debt is shown to be within limitation, this Bench has no alternative except to admit the Company Petition. All the contentions raised by the Corporate Debtor are beyond the scope of this petition as per settled law. There are no valid grounds warranting the rejection of the Company Petition as the debt and default are clearly established and the debt is also within limitation. The petitioner has also suggested the name of proposed Interim Resolution Professional in part-3 of the Petition along with his consent letter in Form-2. Thus, the present Company Petition satisfies all the necessary requirements for admission. Petition admitted - moratorium declared.
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