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2020 (1) TMI 715 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make payment of a sum - debt due and payable or not - HELD THAT:- There is nothing placed on record to show that the Corporate Debtor has supplied a separate set of goods in favour of another entity worth ₹ 13,89,752/- as per the directions of the Operational Creditor - it is not clear how the supply of goods by the Corporate Debtor to another completely different entity can result in the debt due to the Corporate Debtor being cleared, unless it is shown that there was an express instruction to this effect from the Operational Creditor itself. Since nothing is placed on record in spite of opportunity given to the Corporate Debtor, it is difficult to accept the version of the Corporate Debtor. The application made by the Operational Creditor is complete in all respects as required by law. It clearly shows that the Corporate Debtor is in default of a debt due and payable - Application admitted - moratorium declared.
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