TaxTMI 
TaxTMI 
2019 (11) TMI 1727
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....T. INA MALHOTRA, MEMBER (J) The petitioner as a Financial Creditor has prayed for initiation of the Corporate Insolvency Resolution of the Respondent/Corporate Debtor under Section 7 of the Insolvency & Bankruptcy Code, 2016 (herein after referred to as the "Code) for its inability to liquidate its debt. 2. As per averments, the Financial Creditor is engaged in the business of real estate devel....
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....nd control. They confirm the cancellation of the unit and their undertaking to refund the principal amount. Letter to this extent is also on record. However on account of financial constraints, they are unable to do so. The AR of the company who was present in Court has also confirmed this submission. It is an admitted fact that the Corporate Debtor has defaulted in repaying the debt due to financ....
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....or in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession f the corporate debtor. Further, (2) The supply of essential goods or services to the corporate debtor as may be speciji....