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2022 (3) TMI 407 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditor - existence of debt and dispute or not - HELD THAT:- It is the case of the applicant that the Corporate debtor had issued cheque towards the outstanding due payment which has been bounced and was returned bank unpaid by their Bank. Further, issuance of the cheque indicates admission of debt by the corporate debtor towards the applicant. This leaves no doubt that the default has occurred for the payment of the operational debt to the applicant - in the given facts and circumstances, it can be concluded that the applicant has established its claim which is due and payable by the corporate debtor. The present application is admitted. Application admitted - moratorium declared.
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