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2022 (9) TMI 135 - 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:- On having seen the loan disbursement and documents supporting agreement between the parties conferring obligation upon the Corporate Debtor to repay the Loan amount including interest, this Financial Creditor has proved existence of debt and default. Moreover, the Corporate Debtor has admitted the debt in its own reply. The present petition was filed on 28.12.2021 and the Corporate Debtor was having enough time to settle the outstanding amounts of the Financial Creditor, but the Corporate Debtor failed to do so. Under the said circumstances, since the debt and default on the part of the Corporate Debtor is being proved and also by looking at the consent given by the Insolvency Professional, the application is admitted. The application is admitted - moratorium declared.
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