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2021 (10) TMI 183 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - alleged default on the part of the CD to make repayment of dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- Corporate Debtor in reply to the application has admitted that OC had rendered office management service and has not raised any dispute to the outstanding dues to OC. Further, CD has admitted that it had suffered huge losses and hence was unable to make arrangements for the payment of the demand. The applicant has placed sufficient evidence in support of its claim. Thus, the OC has clearly established the existence of debt and default on the part of the CD. The petition is within the limitation period. The present application is admitted initiating CIRP on the CD, with immediate effect - application admitted - moratorium declared.
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