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2018 (5) TMI 1965 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- The occurrence of default is established, According to the Bank Statement on record, between 23-09-2017 to 01-12-2017, no credit of ₹ 84,33,605/- is appearing. Records of the case contains the monthly Bills of Professional Fees and evidence of deduction of TDS on Form No.26AS, however, no evidence is produced from the side of the Respondent that either paid the amount or disputed the claim. Several opportunities have been granted, Notices were issued, but the Respondent preferred silence. On the date of hearing one of the Directors remained present but not seriously contested. Accordingly, the impugned Debt is held to be still outstanding from the Corporate Debtor. Considering the circumstances mentioned, this Petition under consideration deserves to be "Admitted". Petition admitted - moratorium declared.
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