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2019 (1) TMI 455 - Tri - Insolvency and BankruptcyAdmission of petition under Insolvency and Bankruptcy Code, 2016 - Initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor - it was alleged that the Corporate Debtor has defaulted in making payment of ₹11,20,124/-which is due for payment for supply of cement to Hiranandi Palace Gardens (HIRCO) project in Oragadam, Kanchipuram Dist. Tamil Nadu between 05.5.2012 and 17.9.2012 - Held that:- Tere 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 - The operational creditor had recommended name of Interim Resolution Professional (IRP) with his consent however the consent was withdrawn subsequently and no new name is recommended by the Operational Creditor. The present case is fit for Admission under the Insolvency and Bankruptcy Code, 2016.
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