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CIRP admitted as debtor defaulted in repayment of loan and creditors didn't accept one time settlement proposal

May 24, 2019[2019] 107 156 (NCLT- Chennai )

IBC: Where corporate debtor defaulted in repayment of loan availed under joint working consortium agreement and offered for one time settlement but said settlement was not accepted by financial creditors, CIRP was to be admitted

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