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2019 (9) TMI 1349 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- No objections are being raised to the completeness of the application filed under section 9(2) of the Code. The operational debt remains unpaid, the demand notice was delivered to the corporate debtor and the reply has been examined and found to be not acceptable. The proposed resolution professional Shri Sudhir Kumar Jain, has filed Form 2 in which he has stated that there are no disciplinary proceedings pending against him with the Board of Insolvency Professionals Agency of Cost Accountants of India. In view of the satisfaction of the conditions provided for in section 9(5)(i) of the Code, the petition for initiation of the CIRP process in the case of the corporate debtor M/s. Spray Engineering Devices Ltd. is admitted, and moratorium and appointment of interim resolution professional is directed. Application admitted - moratorium declared.
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