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2021 (9) TMI 1242 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors/personal Guarantor - existence of debt and dispute or not - HELD THAT:- The Guarantee of the Personal Guarantor was invoked by the bank by way of notice dated 24.08.2020 and a Demand Notice in Form B under rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process of Personal Guarantors to Corporate Debtor) Rules, 2019 was issued by the Financial Creditor, i.e., State Bank of India on 24.08.2020 to the Personal Guarantor in respect of the unpaid debt due from M/s. C & C Constructions Limited. (Corporate Debtor) under rule 7(1) of the IBC, 2016. Counsel for the Applicant mentioned that there has been no response from the Respondent side to the demand notice - applicant in Part- III of Form-C has submitted that the Record of Default by Information Utility, M/s. National e-Governance Services Limited, recording of debt committed by the Corporate Debtor M/s. C & C Constructions Limited. has also been annexed with the application. The application is complete and is admitted - moratorium declared. List the matter for further proceedings in the case on 22.09.2021.
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