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2017 (8) TMI 1655 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- The petitioner is the Operational Creditor who has initiated Insolvency Resolution Process against the Respondent No.1 Company under Section 9 of the Insolvency & Bankruptcy Code. The counsel for impleading respondent reported no objection. There is no objection filed from the Company. Since the petitioner/Operational Creditor has furnished all information required for initiating Insolvency Resolution Process against the Respondent-1 Company, this Bench is satisfied that the corporate debtor failed to discharge the liability mentioned in this Company Petition filed by the operational creditor under section 9 of Insolvency and Bankruptcy Code, 2016 resulting occurrence of default for an amount of ₹ 1,18,34,618.66/-, this Bench admits this Petition under section 9 of Insolvency and Bankruptcy Code, 2016 declaring moratorium - Petition admitted.
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