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2020 (2) TMI 49 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor defaulted in making repayment of debt - existence of debt and dispute or not - HELD THAT:- There is an unpaid operational debt amounting to ₹ 24,74,085,/- plus interest @18% p.a.. Copy of the work order dated 19.08.2011 is attached as Annexure A1. Moreover, demand notice in Form No. 3 was also sent on 01.03.2018 stating that the amount due from the corporate debtor to the operational creditor is ₹ 37,72.979/- including interest. We have held above that the demand notice in form No.3 dated 01.03.2018 was properly delivered by the operational creditor and the reply has been examined above and found to be not acceptable. IRP is not proposed in Part III of Form No.5. Petition admitted - moratorium declared.
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