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2022 (10) TMI 699 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- The advance given by the OC is also held to be an operational debt. The CD's counsel doesn't raise any objection - considering that there is acknowledgment of debt and acceptance of admission of the receipt of the advance amount of Rs. 1 Crore and in the light of the judgment of the Supreme Court in M/S CONSOLIDATED CONSTRUCTION CONSORTIUM LIMITED VERSUS M/S HITRO ENERGY SOLUTIONS PRIVATE LIMITED [2022 (2) TMI 254 - SUPREME COURT] which held that the amount given as advance would also fall within the definition of operational debt, this application needs to be admitted. Petition admitted - moratorium declared.
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