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2019 (2) TMI 887 - Tri - Insolvency and BankruptcyCorporate insolvency resolution process - unpaid operational debt - Held that:- There is no escape from the conclusion that the "corporate debtor" has committed default and the amount of ₹ 47,34,736 has remained unpaid. Thus, default has been committed by the corporate debtor within the meaning of section 3(12) read with section 4 and section 9(1) of the Code, 2016. In the present case no petition under section 34 of the Arbitration Act or appeal under section 37 of the Arbitration Act is pending and the arbitral award has attained finality. As a sequel to the above discussion, this petition is admitted.
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