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Corporate Debtor Admits Inability to Pay Due to Financial Strain; Legal Resolution Required Under Insolvency Framework.

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....Initiation of CIRP - Suffice to say that the Corporate Debtor admitted that in-spite of receipt of demand notice from the Operational Creditor it could not make payment of operational debt, due and payable due to his weak financial condition. - The fact proved on record is that the Corporate Debtor is an insolvent and its insolvency has to be resolved by the process of law - Tri....

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