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2019 (12) TMI 1412 - 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:- The Corporate Debtor is referring to the Purchase order of the year 2016. The Operational Creditor is contending that all the works were completed in respect of purchase orders which are two in number of the year 2016. On the other hand, the Corporate Debtor is trying to contend that there is a pre-existing dispute by referring to purchase orders of the year 2016 which is not at all the subject matter of the present petition. Except alleging some dispute with regard to the purchase orders of 2016, the Corporate Debtor did not raise any objection with regard to the purchase orders relied upon by the Operational Creditor in the present case. Therefore, it cannot be said that there is a prior dispute. Admittedly, the Corporate Debtor has not raised any dispute with regard to placing purchase order with Operational Creditor and further there is no dispute with regard to raising invoices by the Operational Creditor. Thus, Operational Creditor is able to establish default of operational debt. The Operational Creditor suggested the name of Interim Resolution Professional who has given his consent in Form-2. The Application is in order and deserves to be admitted. Application admitted - moratorium declared.
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