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2019 (1) TMI 1830 - NATIONAL COMPANY LAW TRIBUNAL - CHENNAI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - demand notice sent by Operational Creditor was returned as "refused by recipient" - existence of debt and dispute or not - HELD THAT:- A reply has been given by the corporate debtor to the operational creditor wherein it has been stated that the corporate debtor is sorry for taking more time to pay and given the troubles, it has been assured that the corporate debtor will pay the amount definitely, which is a clear confirmation of the outstanding debt. Therefore, the operational creditor has established that his claim is genuine, and there is default on the part of the corporate debtor. The operational creditor has fulfilled all the requirements of law for admission of the application. This Bench is satisfied that the corporate debtor has committed default in making payment of the outstanding debt claimed by the operational creditor. Application admitted - moratorium declared.
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