CIRP initiation contested; credit facilities revised until Feb 15, 2018. Petition lacks merit, leading to dismissal.

Initiation of CIRP - The Credit facilities had admittedly been revised and sanctioned from time to time and finally on 15th February, 2018 when various documents had been got executed from the Corporate Debtor, the date of default could not be 28th February, 2018 and the date of the corporate debtor's account could not be declared as NPA on 29th May, 2018 when bank had accepted the Resolution passed by the Board of Directors of the Corporate Debtor on 15th February, 2018. - the CP, being devoid of any merit, liable to be dismissed. - Tri .....

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