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2019 (3) TMI 1786 - NATIONAL COMPANY LAW TRIBUNAL, AHMEDABAD BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of dispute within the meaning of Section 9(5)(ii)(d) of the Insolvency and Bankruptcy Code, 2016 or not - HELD THAT:- The records available shows that the amount due to the Applicant from the Respondent is in respect of supply of goods. Therefore, the amount claimed by the Applicant from the Respondent is operational debt within the meaning of section 5, sub-section (21) of the Code. The operational debt is due to the Applicant. Therefore, Applicant is an Operational Creditor within the meaning of sub-section (5) of section 20 of the Code. From the aforesaid material on record, petitioner is able to establish that there exists debt as well as occurrence of default - That, amount is due from the Respondent to the Applicant. Respondent is a Company registered under the Companies Act. Therefore, Respondent is a Corporate Debtor within the meaning of sub-section (8) of section 3 of the Code. The Application filed by the Applicant is complete in all respects - on the basis of material available on record it is a fit case to initiate Insolvency Resolution Process by admitting the Application under Section 9(5)(1) of the Code - Petition deserves to be admitted. Petition admitted - Moratorium declared.
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