Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2018 (1) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 1356 - Tri - Insolvency and BankruptcyCorporate insolvency resolution process - debt or disputed debt - Held that:- The Corporate Debtor has utterly failed to show any dispute and further failed to show that amount as claimed was not due. This is a petition filed by the Financial Creditor under Section 7 of I&B Code. Section 7 deals with initiation of Corporate Insolvency Resolution Process by Financial Creditor. The Financial Creditor has complied the provisions of Section 7 of I&B Code. Financial Creditors/Petitioners has produced evidence of default and also furnished the name of Resolution Professional. Therefore, there are grounds to admit the Petition. Here, the Petitioners have given full details of Corporate Debtor in Form No.l in the relevant columns. The ID number of the Company/Corporate Debtor is given and details of Registered Office and Corporate Office and address details. This Bench admits the petition under Section 7 of Insolvency and Bankruptcy Code, 2016 declaring moratorium for the purposes referred to in Section 14 .
|