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2018 (11) TMI 1192 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - existence of Operational debt - Held that:- From the definition of “Operational creditor” and “Operational Debt”, it can be seen that the applicant has provided the services i.e. clearing the shipment of the respondent company from customs. Having providing services to the respondent company, the applicant clearly comes within the definition of Operational Creditor. Similarly, the claim of outstanding payments to applicant comes within the definition of Operational Debt. Respondent company having admitted that they have availed the services provided by the Operational Creditor and there being default in payment of claimed amount, and the respondent failed to establish the fact that there is pending dispute between the parties. Such application deserves to be admitted for triggering Corporate Insolvency Resolution Process against the respondent corporate debtor. It is also pertinent to note here that as per the reply of demand notice dated 22.05.2018 it can be seen that the Corporate Debtor himself have submitted that “Easytech i.e the Corporate Debtor has never refused to clear the outstanding dues as claimed in the demand notice. They have further submitted that they are incapable to clear the outstanding payments because of paucity of funds facing by their business organization”. Thus, they have admitted the liability. We are satisfied that the present application is complete and there has been part admission of dues and non-payment of the same has resulted in default by respondent. Therefore, on fulfillment of the requirements of section 9 (5) (i) (a) to (d) of the Code, the present application is admitted.
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