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2021 (4) TMI 8 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Debt - Existence of debt and dispute or not - HELD THAT:- Despite the invoice were duly received and dues were acknowledged by the Corporate Debtor, they failed to pay the due amount. Hence, the Operational Creditor issued a demand notice under Section 8 of the Code on 31.08.2019. The Corporate Debtor failed to fulfil its obligations to make timely payment against supplies/services provided - It also appears from the Application that the claim amount satisfies the minimum default requirement [prior to the notification of 24th March 2020] under Section 4 of the Code. On perusing the notice sent under Section 8 (2) of the Code and it is seen that the Corporate Debtor received the notices, however they did not pay the amount of unpaid outstanding due. Therefore, on all counts the Application deserves to be admitted. The present application is complete and the Applicants are entitled to claim its dues, which remain unpaid by the Corporate Debtor. In the light of above facts and circumstances the present application is liable to be admitted and CIRP ordered against the Corporate Debtor. Petition admitted - moratorium declared.
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