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2018 (6) TMI 1194 - Tri - Insolvency and BankruptcyCorporate insolvency process - proof of default - Held that:- Since the Corporate Debtor despite repeated service has not appeared before this Tribunal and a default of debt due to the Operational Creditor is also in existence remaining unsatisfied as evident prima facie, this Tribunal is of the considered view that this petition requires to be admitted and that CIRP process is required to be initiated against the Corporate Debtor. Application/Petition stands admitted in terms of Section 9(5) of IBC, 2016 and the moratorium shall come in to effect as of this date. A copy of the order shall be communicated to the Operational Creditor as well as to the Corporate Debtor above named by the Registry.
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