- (1.) Heard Shri V.K. Sajith, Learned Counsel for Financial Creditor and pursued all the documents filed in support of the case.
(2.) The brief facts leading to the filing of present company Petition No. CP (IB) /49/7/HDB/2017 are as follows: (a) The present application has been filed under Section 7 of IBC, 2016, read with Rule 4 of the Insolvency and Bankruptcy code, 2016 (Application to Adjudicating Authority) Rules, 2016, by inter-alia seeking initiation of CIRP against the Corporate Debtor. (b) Indian Bank, Hyderabad Main Branch was nationalised on 21.07.1970. The Financial Creditor has sanctioned the following:- The Learned Counsel submitted that the date of default is 30/09/2016 and all the particulars of the outstanding claim in default has been filed as Annexure-I (c) The Corporate Debtor failed to clear the above outstanding amounts, even though they were aware that they are supposed to, pay outstanding loans. (d) The Learned counsel submitted that before filing the present company petition, application along with all the material documents have been sent to the Corporate Debtor, and in fact the case was taken up for admission on 25/04/2017. This Tribunal also ordered notice to the Respondents and none appeared for them till today.
(3.) We have perused all the documents filed along with above application and thus, we are satisfied that default in question occurred and thus it is a fit case to admit, however, subject to producing some other documents with regard to appointment of IRP and moratorium as the Learned Counsel requested some more time for the same.;