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2019 (9) TMI 1367 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- The Additional Affidavit filed by the CD on 3/09/2019 shows that the Occupational Certificate was applied by the CD on 5-7-2018 and the same was received by it on 31-5-2019 and the Email for the termination of the Agreement was sent on 08-12-2018 which was 5 months after the occupational certificate was obtained from the authorities by the CD. Hence the CD had fulfilled its obligation of applying for the occupational certificate with in the time frame. Also vide letter dated 14-6-2019, the CD has written to the FC stating that the Apartment No. CD -A6-02-203, Type-3 BHK, Floor 2, Tower A6 in Corridors, Sector 67A, Dhumaspur, Gurgaon is ready for possession. This Tribunal is of the opinion that it is not a fit case to initiate Insolvency process as prayed for by the petitioner/applicant - application dismissed.
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