Section 9 insolvency admission turns on proved debt, default, no pre-existing dispute, and limitation compliance.

An application under section 9 of the Insolvency and Bankruptcy Code was found complete and maintainable where invoices supported an outstanding operational debt above the statutory threshold, the first default was identified as 08.06.2017, and the demand notice was served without any reply or pre-existing dispute from the corporate debtor. The tribunal recorded that the claim was filed within limitation and that the materials established debt, default, and absence of dispute. On that basis, the statutory requirements for admission and commencement of the corporate insolvency resolution process were satisfied, and the application was admitted.

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Issues: Whether the application under section 9 of the Insolvency and Bankruptcy Code, 2016 was complete and maintainable, with operational debt and default established, no pre-existing dispute shown, and the claim filed within limitation so as to warrant admission and initiation of corporate insolvency resolution process.

Analysis: The application was supported by invoices evidencing an outstanding operational debt above the statutory threshold and the date of first default was identified as 08.06.2017. The demand notice in Form 3 was issued and served, but no reply or dispute was raised by the corporate debtor. The Tribunal recorded that the petition was filed within limitation, that the application was complete, and that the materials on record established debt, default, and absence of any pre-existing dispute. On that basis, the statutory requirements for admission under section 9 were satisfied.

Conclusion: The section 9 application was admitted, and initiation of corporate insolvency resolution process was warranted.

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