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2018 (12) TMI 1048 - NATIONAL COMPANY LAW TRIBUNAL, MUMBAICorporate Insolvency Resolution Process (CIRP) - defaulted in making payment which is due for the cut and polished diamonds supplied by the Petitioner to the Corporate Debtor - Held that:- Petitioner has attached the relevant tax invoices and bank certificate to show that no payment has been received from the Corporate Debtor except an amount of ₹7,450/- on 18.10.2017. The Petitioner has annexed the demand notice, sent to Corporate Debtor as per section 8 of Insolvency and Bankruptcy Code, 2016, the invoices against which it claims the outstanding amount from the Corporate Debtor as well as the Bank Statements to show that payment of the outstanding default amount is not received from the Corporate Debtor in the bank account of the Corporate Debtor. The Corporate Debtor has not raised any dispute regarding the unpaid operational debt. The application made by the Petitioner is complete in all respects as required by law and it clearly shows that the operational debt has not been paid as also confirmed by the Corporate Debtor in its reply to the demand notice. Therefore, there is a clear default on the part of the Corporate Debtor in payment of outstanding amount to the Petitioner, and there was no existing dispute regarding the same. On perusal of the pleadings and documents submitted and the arguments of the counsel appearing for both the sides, we are of the view that the present case is fit for Admission under the Insolvency and Bankruptcy Code, 2016. The petition filed under Section 9 of Insolvency and Bankruptcy Code, 2016 is admitted.
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