Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (1) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (1) TMI 1420 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Petition filed by Operational Creditor - existence of debt and dispute or not - HELD THAT:- Operational creditor filed Form-5 and furnished the information with regard to the operational debt which is committed default by corporate debtor - The notice was served on the corporate debtor. Postal track record is filed through Memo. PCS contended that corporate debtor has not replied or failed to defend. The claim is within limitation. There is no representation or reply by the Corporate Debtor. was served with notice before admission. However, corporate debtor remained absent and it did not contest the claim. The operational creditor has been able to establish un disputed operational debt against corporate debtor and the corporate debtor has been in default with regard to the payment of dues to the operational creditor amounting to ₹ 2,30,62,247.90/ The Operational creditor is able to establish through documents that corporate debtor committed default of operational debt and there is no pre-existing dispute. Thus, this Petition is complete and is liable to be admitted. Petition admitted - moratorium declared.
|