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2022 (3) TMI 1106 - 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:- It is seen that the Respondent/Corporate Debtor filed a Memo vide diary no. 1700 dated 12.03.2020 admitting the debt and its inability to pay the same to the Petitioner. In view of the same, the C.P. is liable to be admitted. The present petition being complete and having established the default in payment of the financial debt and for the default amount being above ₹ 1,00,00,000/-, the petition is admitted in terms of Section 7 of the IBC, 2016 - petition admitted - moratorium declared.
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