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2021 (5) TMI 573 - 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 - HELD THAT:- The Bench notes that the Petitioner has supplied goods as per the purchase orders issued by the Corporate Debtor from time to time. The ledger account shows the details of invoices, monies paid by Corporate Debtor and monies outstanding to be paid by Corporate Debtor - The Bench also notes that appropriate invoices in respect of the same has been placed by the Petitioner upon the Corporate Debtor wherein the goods supplied and the amount mentioned in the invoices has been admitted in all cases by the Corporate Debtor. This bench is of the considered view that the Corporate Debtor is liable to pay the total amount of ₹ 1,01,12,793/- which includes principal of ₹ 46,27,984/- Plus ₹ 54,84,809/- as a compounded interest - the outstanding debt of more than ₹ 1,00,000/- is due and payable against the Corporate Debtor and Corporate Debtor has committed default in making the payment. Hence the petition is admitted. Petition admitted - moratorium declared.
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