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2019 (5) TMI 1105 - Tri - Insolvency and BankruptcyAdmission of application - Operational Creditor - Invocation of provisions of Section 9 of the Insolvency & Bankruptcy Code, 2016 against the Corporate Debtor - HELD THAT:- The default as defined u/s. 3(12) of The Code is established. Demand Notice has been issued to the Respondent Debtor, however, not replied to the said Demand Notice within the prescribed time period of 10 days u/s.8(2) of The Code nor made the payment. Keeping the admitted facts in mind that the Operational Creditor had not received the outstanding Debt from the Corporate Debtor so far and that the formalities as prescribed under The Code have been completed by the Petitioner/ Operational Creditor, it is my conscientious view that this Petition deserves “Admission” - Upon Admission of the Application and Declaration of “Moratorium” the Insolvency Process such as Public Announcement etc. shall be made immediately as prescribed under section 13 read with section 15 of The Code. Application admitted.
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