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2019 (10) TMI 1154 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHI PRINCIPAL BENCHMaintainability of application - initiation of CIRP - Corporate Debtor - the principal stand taken is that the petitioner is not an Operational Creditor of Corporate Debtor - HELD THAT:- The Corporate Debtor has undertaken the assets and liabilities of erstwhile proprietorship firm-Royal Appliances and continued making payment to the Operational Creditor in lieu of the alloy ingots supplied by it to the proprietorship firm-Royal Appliances. There is no ‘dispute raised’ or registered with Information Utility’ which may become the basis to reject the petition. The aforesaid entries have been made as extracted in the preceding paras in the books of account of the Corporate Debtor itself. The amount is due and payable - The claim made by the petitioner is within the period of limitation and must be regarded as an operational debt within the meaning of Section 5 (21) of the Code, 2016. This petition is admitted and Mr. Sandeep Jain is appointed as an Interim Resolution Professional - petition admitted - moratorium declared.
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