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Petition filed u/s 7 of IBC admitted as claimed amount was more than a lakh

July 20, 2019[2019] 108 255 (NCL-AT)

IBC: If there is a 'debt' payable by 'corporate debtor' and default is committed and default is of more than Rs. 1 Lakh, it is open to the Adjudicating Authority to admit application under to initiate CIRP against corporate debtor

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