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2020 (5) TMI 664 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - operational debt - existence of debt and dispute or not - HELD THAT:- Written communication under Form 2 reveals that there is no disciplineary proceedings pending against the proposed IRP. That being so, the operational creditor succeed sin proving that the application under sub-sec. (2) of Sec.9 of IBC ode 2016 is complete; that there is no payment of the unpaid operational debt and that there is service of demand notice with invoices. Despite receipt of the demand notice, the reis no payment on the side of the corporate debtor, no pre-existing dispute, also alleged or proved. The Ld. Counsel for the CD not raised any dispute at the time of hearing, of her than his request for time to settle the matter. There is no disciplinary proceedings pending against the RP proposed under sub-sec.(4)of Sec.9 of IB Code, 2016 and accordingly this application is complete and therefore, liable to be admitted. Application admitted - moratorium declared.
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