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2020 (9) TMI 507 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- The Corporate Debtor has neither stopped placing orders to the Operational Creditor, nor has initiated any civil or criminal proceeding against them. Thus, we are of the firm belief that this is only an afterthought and concocted contentions of the Corporate Debtor which cannot be relied upon - Moreover, the ledger accounts of the Corporate Debtor for the Financial Year 2016-2017 maintained by the Operational Creditor bears the amount of debt of ₹ 1,75,56,450.65/- which was due and payable on the date of closing of the account i.e. 31.03.2018. This Bench having been satisfied with the Application filed by the Operational Creditor which is in compliance of provisions of section 8 & 9 of the Insolvency and Bankruptcy Code admits this Application declaring moratorium - Petition admitted - moratorium declared.
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