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2019 (3) TMI 1653 - NATIONAL COMPANY LAW TRIBUNAL, CHENNAIMaintainability of application - initiation of CIRP - Corporate Debtor defaulted in paying to the Operational Creditor - existence of dispute and debt or not - HELD THAT:- There are no merit in the argument of the Corporate Debtor counsel saying that the debtor is under no obligation to pay the dues for the supply of power already availed under the old agreement dated 15.11.2014 - For it is not even the case of the debtor that this claim is hit by limitation, obligation to pay to the supply availed is already cleared and dispute existing between the parties, we cannot arrive to a conclusion that the debtor is relieved from paying the dues against the power supplied by the creditor. Since the Creditor has filed copies of invoices, earlier agreement dated 15.11.2014 entered into between the parties, subsequent agreement, Demand Notice dated 07.03.2018 sent to the Corporate Debtor and also Reply Notice dated 19.03.2018 by the Corporate Debtor, we are of the view that this Applicant/Operational Creditor has established the existence of debt as well as default, whereby, this Company Petition is hereby admitted. Petition admitted - moratorium admitted.
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