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2018 (8) TMI 1886 - Tri - Insolvency and BankruptcyAdmissibility of application - initiation of CIRP - Corporate Debtor - Section 9 of the Insolvency & Bankruptcy Code, 2016 r/w the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 - HELD THAT:- The Operational Creditor has fulfilled all the requirements of law for admission of the Application. This Bench is satisfied that the Corporate Debtor has committed default in making payment of the outstanding debt claimed by the Operational Creditor. Application admitted and the commencement of the Corporate Insolvency Resolution Process is ordered which ordinarily shall get completed within 180 days, reckoning from the day this order is passed. Application allowed - moratorium declared.
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