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2019 (6) TMI 1460 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - debt due and payable or not - HELD THAT:- The operational creditor has established the existence of debt and default by the corporate debtor company. The Tribunal in the circumstances is of the view that the corporate debtor is unable to give satisfactory explanation in relation to any pending dispute or the claim being paid and that this petition requires to be admitted in view of the default and that CIRP is required to be initiated against the corporate debtor. The application/petition stands admitted in terms of section 9(5) of the IBC, 2016 and the moratorium shall come in to effect as of this date.
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