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TMI Blog2019 (3) TMI 1775X X X X Extracts X X X X X X X X Extracts X X X X ..... or has admitted its liability, but expressed its inability to pay because of financial constraints - also, The outstanding unpaid debt has been evidenced through their Ledger Accounts duly corroborated by the Bank Statements. Given the facts and circumstances that the Corporate Debtor admits its default and inability to repay the Petitioner's prayer merits consideration - petition admitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay an amount of ₹ 82,80,002/- out of the total money lent by the Financial creditor. The financial creditor demanded return of his amount vide their written communication dated 20.10.2016 but no steps were taken by the Corporate Debtor citing the financial difficulties and requested time till March, 2018 to repay the entire financial debt. However despite repeated requests and demands the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. The financial creditor has proposed the name of Mr. Ajay Gupta as the IRP. His details are as registration No. IBBI/IPA-001/IP-P00140/2017-18/10304, email [email protected], 9871277445. The consent of the Mr. Ajay Gupta is on record along with the copy of his certificate. We accordingly confirm his appointment as the IRP. He shall take such other and further steps as are required under th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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