Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2021 (6) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (6) TMI 51 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHMaintainability 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 demand notice, invoices filed by the Operational Creditor, the detail of which is given under Para IV of the Petition, compliance with the requirements of Section 9(3)(b) and (c), and the report filed by the Independent Chartered Accountant, clearly established that the Corporate Debtor has defaulted in making the payments of the debt due to the Operational Creditor. Thus, the application is admitted, and the commencement of the CIRP is ordered against the corporate debtor viz., M/Hemam Engineering Industries Ltd, which ordinarily shall be completed within 180 days, reckoning from the day this Order is passed. Application admitted - moratorium declared.
|