Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2022 (10) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (10) TMI 519 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- Upon perusal of the Application, it is observed that this Tribunal has dismissed the captioned petition vide order dated 03.06.2022. The Applicant had preferred an appeal against the aforesaid order of dismissal of petition passed by this Tribunal before the Hon'ble NCLAT. Vide order dated 08.09.2022, the Hon'ble Appellate Tribunal has set aside the order dated 03.06.2022 with directions to this Tribunal to pass an order of admission and other consequential order. Therefore, this Tribunal, vide order dated 20.09.2022, has restored the captioned petition. The Letter of Intent dated 06.09.2010 was executed between the Operational Creditor and the Corporate Debtor clearly substantiate the Operational Creditor's claim that the Corporate Debtor has defaulted on repayment which is duly admitted by Corporate Debtor. Vide order dated 20.09.2022, the Ld. Counsel for Corporate Debtor has admitted the liability of the Corporate Debtor. Upon appreciation of the documents placed on record to substantiate the claim, this Tribunal admits this petition and initiates CIRP on the Corporate Debtor with immediate effect - moratorium declared.
|