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2022 (2) TMI 416 - 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 - HELD THAT:- The financial creditor has furnished the receipts proving the payments, as per the directions given by the Hon'ble Supreme Court, has annexed the list of the 101 applicants and the amount claimed by them, and proof of the payments made by them and received by the Corporate Debtor, has placed various documents substantiating the demand by them. But Financial Creditor have not received any response from Corporate debtor - there exists a default and evidence of default has already been placed by the financial Creditor. According to Sec. 7(5) if the Adjudicating Authority is satisfied that a default has occurred and the Application is Complete in Accordance to Sec. 7(2) and 7(3) Then Adjudicating Authority may admit such Application. The Application is complete in all respects and there is a denial of the refunds of payment made by financial creditors and application is within the limitation Period - application admitted - moratorium declared.
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