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2019 (12) TMI 565 - NATIONAL COMPANY LAW TRIBUNAL, MUMBAIMaintainability of application - initiation of CIRP - Corporate Debtor defaulted in making repayment - date of default - HELD THAT:- The application made by the Operational Creditor is complete in all respects as required by law. It clearly shows that the Corporate Debtor is in default of a debt due and payable, and the default is in excess of minimum amount of one lakh rupees stipulated under section 4(1) of the IBC. Therefore, the default stands established and there is no reason to deny the admission of the Petition - In view of this, the Adjudicating Authority admits this Petition and orders initiation of CIRP against the Corporate Debtor. Petition admitted - moratorium declared.
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