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Plea to initiate CIRP allowed on failure to clear dues as per agreed terms

March 19, 2020[2020] 115 14 (NCLT - Ahd.)

IBC : Where a contract was executed between operational creditor and corporate debtor and as per terms of said contract, operational creditor had provided usage of its property to corporate debtor, however, corporate debtor committed default in payment of monthly rent and had not raised any dispute regarding amount of debt or quality of goods supplied, CIRP application against corporate debtor was to admitted

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