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CIRP to be initiated as corporate debtor admitted its liability for goods supplied but wasn’t in position to pay same

January 6, 2020[2019] 112 taxmann.com 348 (NCLT- Chennai )
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IBC: CIRP to be initiated, where in response to demand notice corporate debtor admitted its liability towards payment of goods supplied by operational creditor but expressed its inability to pay claim immediately due to financial problems

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