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2017 (6) TMI 1307 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor - existence of default in repayment of amount - HELD THAT:- The petitioner as operational creditor and the respondent is corporate debtor. The material on record further clearly show that the amount covered by invoice is due to the operational creditors. 1st invoice is dated 15.03.2014 and the last is dated 19.05.2016. As can be seen from the confirmation of accounts from 01.04.2016 to 31.03.2017 an amount of ₹ 41,84,270/- is outstanding against respondent. Petitioner stated that no notice of dispute has been given by respondent. From the aforesaid material on record it can be said that the debt is due to the operational creditors from the corporate debtor and corporate debtors made default in making repayment of the said debt - Petitioner stated the name of the insolvency professional and filed his written communication. Petitioner also issued demand notice as required by section 8(1), read with Rule 5, of the Rules and served the same on the respondent. There is an occurrence of default in repayment to the operational creditor by corporate debtor and the corporate debtor made default in making repayment of the said debt. Application admitted - moratorium declared - Interim Resolution Professional appointed.
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