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2019 (4) TMI 1739 - AT - Insolvency and BankruptcyMaintainability of petition - initiation of Corporate Insolvency Resolution Process - inability on the part of Corporate Debtor to liquidate its outstanding debt - Section 9 of the Insolvency & Bankruptcy Code, 2016 - HELD THAT:- Upon filing of the present petition, the Corporate Debtor was issued notice. Since they failed to appear in Court to resist the petition, they were proceeded ex parte. In view of the facts and circumstances of the case which remain undemolished and uncontested, the prayer of the Operational Creditor merits consideration. Petition admitted - moratorium declared.
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