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2019 (2) TMI 600 - Tri - Insolvency and BankruptcyCorporate insolvency process - unpaid operational debt - Held that:- The Petitioner has annexed the demand notice sent to Corporate Debtor as per section 8 of Insolvency and Bankruptcy Code, 2016 and the same was received by the Corporate Debtor, the invoices against which it claims the outstanding amount from the Corporate Debtor as well as the bank certificate and Bank Statements to show that no payment is received from the Corporate Debtor in its bank account. The Corporate Debtor has not raised any dispute regarding the unpaid operational debt which is stated by the Petitioner on Affidavit and is also admitted by the Corporate Debtor. The application made by the Petitioner is complete in all respects as required by law and it clearly shows that the operational debt has not been paid as also confirmed by the Corporate Debtor. It is worth to mention that the Corporate Debtor had never attended the hearing. In totality of the facts and circumstances mentioned supra, we are of the view that the impugned Petition requires ‘Admission’. The Corporate Debtor having named the Interim Resolution Professional with his consent, there being no disciplinary proceedings against, this Bench hereby admits this petition filed under Section 9 of IBC, 2016, declaring moratorium with consequential directions
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