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2018 (11) TMI 1537 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - outstanding debt - Held that:- The Corporate Debtor admitted the liability in the letters addressed to MMRDA and further acknowledged liability in the letter addressed to the Operational Creditor. Thus, Corporate Debtor committed default. Demand notice under Section 8 was also issued and there was no reply and no dispute was raised. The Operational Creditor filed bank statement to prove that no payment from the side of Corporate Debtor. The Petition is therefore liable to be admitted. The Petition is in order. Hence Petition is admitted. The Operational Creditor has filed a fresh Form-2, the consent given by Mr. Rakesh Rathi having IP registration No. IBBI/IPA-001/IP-P00696/2017-18/11211 to act as Interim Resolution Professional. Hence, the Adjudicating Authority admits this Petition under Section 9 of IBC, 2016, declaring moratorium for the purposes referred to in Section 14 of the Code
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