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2018 (7) TMI 2089 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor defaulted in paying the debt - existence of debt and dispute or not - HELD THAT:- Since the Corporate Debtor has failed to file a response before this Tribunal and a default of debt due to the Operational Creditor is in existence, remaining unsatisfied, this Tribunal is of the considered view that this petition requires to be admitted and that CIRP process is required to be initiated against the Corporate Debtor. The Application/Petition stands admitted in terms of Section 9(5) of IBC, 2016 and the moratorium shall come in to effect as of this date.
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