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2019 (8) TMI 1456 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of outstanding debt - existence of debt and dispute - HELD THAT:- The amount of more than ₹ 50 Lakhs is owed by the corporate debtor to the operational creditor and despite the demand notice under issued under Section-8 the amount has remained unpaid. It is also evident that neither any reply was filed to the notice under section-8 of the IBC nor reply to the instant petition has been furnished despite repeated opportunities granted. The amount has become due and payable. The default stands established and the petition warrants admission. Petition admitted - moratorium declared.
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