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2021 (4) TMI 221 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - application is complete in all respects or not - HELD THAT:- The Corporate Debtor made a submission that there was no relationship between the Operational Creditor or the Corporate Debtor and other application filed against the Corporate Debtor under Section 7 was also pending and listed even today. We verified this fact from the cause list. Thus the factor of collusiveness gets adequately rebutted - The name of the Interim Resolution Professional (IRP) has been proposed, though, it is not mandatory in respect of application filed under Section 9 of the I.B. Code, 2016 - there is no material on record to show that any disciplinary proceedings are pending against such proposed IRP This application is complete in all respects and defect free. It also complies with the requirements of provision of relevant provisions of the Insolvency and Bankruptcy Code 2016 The amount of debt is more than the threshold limit prescribed for the initiation of the CIRP against the Corporate Debtor - Application is deserved to be admitted - application admitted - moratorium declared.
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