2019 (5) TMI 1141

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....e, 2016 ("the Code") stating that the Corporate Debtor ("the Debtor") defaulted in repaying loan amount of Rs. 7,90,71,611 as on 06.03.2018, henceforth sought for initiation of Corporate Insolvency Resolution Process (CIRP) against the Debtor. 2. It is the case of the Creditor that the Debtor had entered into a Loan Agreement dated 08.10.2014 with the creditor for a sum of Rs. 5,50,00,000, in pursuance thereof, the Creditor disbursed this loan amount from three separate accounts - 6240019990 [1 Crore], 6240020064 [2.75 Crores] and 6240020949 [1.75 Crores] to the Debtor at the rate of 14% interest per annum. Accordingly, the Creditor disbursed the amounts on 03.11.2014, 15.12.2014 and 31.10.2014 respectively. For grant of this loan, the Deb....

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....rges issued by the Registrar. This Creditor to prove that the liabilities being reflected in the records of the Debtor, it has filed the Balance Sheet and Notes thereof reflecting this liability in the records of the Debtor. In addition to it, it has also filed the Statement of Account disclosing the part payments made by the Debtor till 31.05.2016. 3. For there being no defence from the Debtor side, since this Bench having found the material furnishing the existence of debt and default against the Debtor, we are of the view that this petition is fit for admission, therefore, for the Creditor have filed Consent Form of the proposed Resolution Professional, we admit this petition with the directions as follows: I. That Moratorium is hereb....