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2020 (3) TMI 1061 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - Existence of debt and dispute or not - HELD THAT:- The Respondent company has failed to repay the outstanding amount of ₹ 39,84,788/- arising in usual and ordinary course of business and has become commercially insolvent - it is clear that the Corporate Debtor has defaulted in making payment in terms of the agreement to be paid to the Petitioner/Operational Creditor. Date of Default is on 01.04.2016. Application admitted - moratorium declared.
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