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2018 (10) TMI 1738 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor was unable to pay amount towards arrears of rent for use of the premises - section 9 of the Insolvency & Bankruptcy Code, 2016 - HELD THAT:- Considering the facts of the case, the provisions of law and various rulings as relied on by the parties to the proceeding, I have come to the conclusion that this petition is maintainable. It is seen from the record that the Operational Creditor has complied with the provisions of section 9(3)(b) and 9(3)(c) of the I&B Code. Admittedly, the operational debt is claimed and the Corporate Debtor is unable to pay the same. Hence, the CIRP has to be admitted. Application admitted - moratorium declared.
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