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Petition for Corporate Insolvency Resolution Process dismissed; company not insolvent, experiencing growth, no financial debt found.

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Full Text of the Document

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....Initiation of CIRP - The Petitioner has approached this forum only for recovery. He has not made out any case that the Corporate Debtor is insolvent and unable to repay its debts because of which CIRP should be initiated against it. We find that the Company is seeing an upswing in its business. - There was no financial debt within the meaning of the Code - Petition dismissed.....

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