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2019 (9) TMI 1298 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment - Whether the dispute as raised by the Corporate Debtor is genuine or can be categorised as moonshine dispute? HELD THAT:- Though the invoices were raised in 2011 but the Corporate Debtor has acknowledged its debt vide letter dated 30.01.2016 and issued cheques in lieu of payment of the debt. Irrespectively, despite such acknowledgement of debt by issuance of cheque towards admitted outstanding amount as a matter of fact, even considering the law in terms of Section 25(3) of the Indian Contract Act, 1872 the matter is within the purview of Law of Limitation. The present application is complete and the Applicant is entitled to claim its dues, establishing the default in payment of the operational debt beyond doubt. In the light of above facts and records the present application deserves to be admitted and this application is admitted. Application admitted - Moratorium declared.
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