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2022 (3) TMI 1107 - 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 Applicant Bank has filed the entire set of documents. Furthermore, debt and default has been proved. The Respondent has executed a letter of renewal dated 28.02.2018 and the documents executed by the Respondent in favour of the Applicant Bank which are also enclosed along with the Application. There is no dispute about debt and default. The Application is complete in all aspects. The Applicant Bank has also taken proceedings under Section 13(2) of SARFAESI Act, 2002 for recovery of entire amount due and payable by the Respondent and hence the debt and default is proved. Under the said circumstances, this Tribunal is left with no other option than to proceed with the present case and initiate the Corporate Insolvency Resolution Process in relation to the Corporate Debtor, which ordinarily shall get completed within 180 days, reckoning from the day this order is passed. Application admitted - moratorium declared.
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