Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2019 (1) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 928 - Tri - Insolvency and BankruptcyCorporate insolvency process - proof of outstanding debt - main contention raised in the reply filed vide diary No.1968 dated 04.06.2018 by the corporate debtor is that it has always disputed the amount/invoices on account of supply of sub-standard material - Held that:- Affidavit dated 21.02.2018 (Annexure-13 of the petition) has been filed by Sh. Sanjeev Khurana, Assistant General Manager of the operational creditor that the corporate debtor has neither disputed the existence of or amount of un-paid operational debt within the period specified by law nor provided the details of the pendency of the suit or arbitration proceedings in relation to any such dispute filed and further, there is no notice given by the corporate debtor relating to a dispute of the un-paid operational debt. We find that the affirmation made in the affidavit remain unrebutted by the corporate debtor in the reply filed. The conditions provided for in Section 9(5)(i) of the Code are satisfied and we therefore admit the petition filed by the operational creditor Ashapura Perfoclay Limited for initiating corporate insolvency resolution process in the case of the corporate debtor Mahabir Techno Limited.
|