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2018 (4) TMI 1890 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to liquidate its financial debts - Operational Creditors - existence of debt and dispute or not - service of demand notice - HELD THAT:- The present petition has been filed in the required format through its duly authorised signatory and has complied with the mandatory requirements under the Code including issuance of a demand notice to which no reply was given. The copies of the invoices have also been annexed - On being served the Corporate Debtor put in its appearance through their advocate and made a categorical statement that they admit the outstanding liability but are unable to repay the same. The demand notice under Section 8 was also issued prior to the filing of the present petition and no dispute was raised in respect of the same. In View Of the admitted liability Of a financial debt towards the Operational Creditor, the prayer of the Petitioner merits consideration - Petition admitted - moratorium declared.
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