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Initiation of CIRP was to be dismissed when default of debt being paid to operational creditor: NCLT

July 9, 2020[2020] 117 taxmann.com 582 (NCLT - Kochi)
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IBC : Where operational creditor supplied goods to corporate debtor for which corporate debtor failed to make payments and corporate debtor had not raised any dispute in respect of goods and amount to be paid, thus, corporate debtor being in default of a debt due and payable, application filed by operational creditor under section 9 for initiation of corporate insolvency resolution process against corporate debtor was to be admitted

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