Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2018 (4) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 1568 - NCLT, MUMBAIInitiation of Corporate Insolvency Resolution Process (CIRP) - Held that:- Upon perusal of reply of the Corporate Debtor letter dated 19/9/2017, it's noted that Corporate Debtor itself stated that he had purchased material worth Crores of Rupees during the period of April 2010 to March 2013, but in the same letter Corporate Debtor has denied as not received any such material from Operational Creditor. Upon perusal of the documents, materials submitted by Operational Creditor, we are satisfied that Corporate Debtor has failed to make payment towards supply of material/goods made by Operational Creditor, application has been filed in the prescribed Form (application form also contains relevant information) proposed an IRP and the application is complete in all respects and debt and default is established, therefore, it's a fit case to admit U/s 9 of I & B Code 2016, to declare moratorium and to appoint IRP as proposed. In view of the reasons mentioned above, we hereby admit this case by declaring moratorium u/s 14 of the Code
|