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TMI Blog2022 (5) TMI 1205X X X X Extracts X X X X X X X X Extracts X X X X ..... e and is not paid, the insolvency resolution process begins. Apparently, since there is no dispute raised by the Corporate Debtor, in fact the corporate debtor has clearly admitted that a default has occurred. This bench is of the view that the prayer of the applicant deserves to be allowed. This Tribunal is of the affirm view that there was default on the part of the respondent in pursuance of invoices raised on behalf of the applicant, accordingly, the present application stands admitted in terms of Section 9(5) of the Code and CIRP is hereby ordered to be initiated against the respondent Corporate Debtor, forthwith. Application admitted - moratorium declared. - Company Petition No. (IB)- 664(ND)/2021 - - - Dated:- 13-5-2022 - D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Authority Rules, 2016) demanding a payment of outstanding dues of Rs. 1,02,87,799/-. The said notice was duly received by the Corporate Debtor on 04.08.2021. 3. However, the corporate Debtor failed to make payment or reply to the said notice. The applicant has filed affidavit under Section 9(3)(c) dated 25.10.2021 stating that no notice of dispute or reply was received from the corporate Debtor. Hence, prayed for acceptance of the present application under section 9 of the Code. 4. The Corporate debtor filed reply denying the contentions raised by the applicant: a) The default has and occurred and the reason leading to the said default is the business conditions of the corporate debtor which depicted ZERO sale in almost 4 years. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce of invoices raised on behalf of the applicant, accordingly, the present application stands admitted in terms of Section 9(5) of the Code and CIRP is hereby ordered to be initiated against the respondent Corporate Debtor, forthwith. 8. The operational creditor has proposed the name of an Interim Resolution Professional, therefore this bench appoints Mr. Mukesh Gupta, as Interim Resolution Professional having registration number IBBI/IPA-001/IP-P01494/2018-19/12254 with email - id: [email protected], who has also agreed to accept the appointment as the interim resolution professional and has signed a communication in Form 2 in terms of Rule 9(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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