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2019 (10) TMI 1218 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to pay outstanding amount - dishonor of cheque - HELD THAT:- The Respondent-Corporate Debtor Company has committed default in making payment of its operational debt - Despite issuance of Demand Notice under Section 8 of the I & B Code, the Corporate Debtor did not choose to pay the operational debts due nor gave reply to the above stated statutory notice. The present IB Petition is found complete and fit for triggering the Insolvency Resolution Process in respect of Corporate Debtor - the present IB Petition, filed under Section 9 of the Code, deserves admission. Petition admitted - moratorium declared.
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