Weekly Browser A-
The
corporate
debtor
made
only
part
payment.
Despite
issuance
of
section
8
notice^
by
operational
creditor,
the
corporate
debtor
had
not
made
payment
of^
outstanding
amount
nor
raised
any
dispute.
Subsequent
to
initiation
of
in
stant -
insolvency
proceedings
by
the
operational
creditor,
the
corporate
debtor
approached^
the
operational
creditor
for
settlement
of
outstanding
amount.
In
pursuance^
to
same,
the
corporate
debtor
made
payment
of
two
instalments
but^
failed
to
make
payment
of
remaining
amount.
The
NCLT
held
that
since
amount
due
to
operational
creditor
from
corporate
debtor^
was
in
respect
of
supply
of
goods,
amount
claimed
by
operational
creditor^
from
corporate
debtor
would
be
operational
debt.
The
tribunal
held
that^
the
execution
of
settlement
agreement
itself
confirmed
that
operational
debt^
was
due
and
payable.
And
therefore,
the
instant
CIRP
application
filed
by^
operational
creditor
being
complete
in
all
respect
was
to
be
admitted.
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