Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (3) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 707 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- To prove that no disciplinary enquiry proceeding is pending against the proposed Insolvency Resolution Professional produced Form-2 with written communication as Annexure P-3. It proves that no disciplinary enquiry proceeding is pending against the proposed Insolvency Professional. To prove that the operational creditor is entitled to claim interest Ld. Counsel relied upon the copy of the invoices. It demonstrates that in case of default, the Corporate Debtor is liable for interest @ 18% per annum. In compliance of section 9(3)(b) of the code, an affidavit seen produced by way of supplementary affidavit and also produced copy of statement of Bank account in compliance of section 9(3)(c) of the Code. The copy of statement of Bank account, is marked as Annexure - P11. It proves that unpaid amount has not been paid as demanded by the Operational Creditor. This Application is fit for admission and accordingly is admitted - Application is admitted and moratorium is declared.
|