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2022 (4) TMI 11 - NATIONAL COMPANY LAW TRIBUNAL , BENGALURU BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Personal Guarantors - existence of debt and dispute or not - HELD THAT:- From the report of the Resolution Professional there does not appear any request for issuance of any direction for the purpose of conducting negotiations between the Personal Guarantor and the Financial Creditor for arriving at the repayment plan. Based on the reasons recorded in the report submitted by the Resolution Professional, the application is hereby admitted under Section 100 of the IBC, 2016. The Insolvency Resolution Process is initiated against the Applicant/Personal Guarantor and moratorium is declared in place of interim moratorium, which begins with the date of admission of the application and shall cease to have effect at the end of the period of 180 days, as provided under Sec 101 of IBC 2016. Application admitted - moratorium declared.
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