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CIRP initiated when corporate debtor failed to repay loan taken from financial creditor and cheques were dishonoured

October 15, 2020[2020] 120 94 (NCLT - New Delhi)

IBC : Where corporate debtor failed to pay loan advanced by financial creditor and security cheques given by corporate debtor to financial creditor was also dishonoured due to insufficient funds, default being duly established, CIRP was to be initiated

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