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2017 (7) TMI 1360 - 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 Affidavit has been filed in compliance with the provisions of Section 9(3)(b) of the I&B Code, 2016 stating therein that the Corporate Debtor has not given any notice in relation to any dispute pertaining to the unpaid operational debt. The Counsel submitted that four cheques dated 24.9.2011, 29.9.2011, 7.10.2011 and 2.11.2011 were issued by the Corporate Debtor which got bounced. Based on this, the Counsel submits that the same may be treated as an evidence that Corporate Debtor has not made payments of the outstanding debt because the Banker did not issue the required certificate. The Petitioner has fulfilled the requirement of law for admission of the Petition. Petition admitted - moratorium shall have effect from the date of this Order till the completion of corporate insolvency resolution process, for the purposes referred to in Section 14 of the I&B Code, 2016.
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