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2019 (4) TMI 1743 - NATIONAL COMPANY LAW TRIBUNAL, HYDERABADInitiation of Corporate Insolvency Resolution Process - Corporate Debtor defaulted in repayment of sum - Section 9 of Insolvency and Bankruptcy Code, 2016, R/ w Rule 6 of Insolvency & Bankruptcy (Application to the Adjudicating Authority) Rules, 2016 - HELD THAT:- The Petitioner Supplied goods to the Corporate Debtor as per directions given in the purchase orders but the Corporate Debtor tries to pass the liability on the USA Company which cannot be accepted and hence Corporate Debtor failed to pay invoices raised by the petitioner and has committed the default and the amount of ₹ 10,995,593 remained unpaid. Therefore, there are grounds to admit the petition - Petition is admitted. The Adjudicating Authority admits this Petition under Section 9 of IBC, 2016, declaring moratorium for the purposes referred to in Section 14 of the Code.
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