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2020 (6) TMI 720 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - HELD THAT:- There has been no communication in reply from the Corporate Debtor to the Demand Notice dated 27.04.2018, in spite of receiving the same by Speed Post. The Demand Notice was also sent by FedEx Courier on 02.05.2018. Affidavit of Service dated 09.12.2019 has been placed on record - In spite of various opportunities given, there was no representation on behalf of the Corporate Debtor. Therefore, it appears that the Corporate Debtor is not interested in contesting the present petition. The application made by the Operational Creditor is complete in all respects as required by law. It clearly shows that the Corporate Debtor is in default of a debt due and payable, and the default is in excess of minimum amount of one lakh rupees stipulated under section 4(1) of the IBC at the relevant time. Therefore, the default stands established and there is no reason to deny the admission of the Petition. In view of this, this Adjudicating Authority admits this Petition and orders initiation of CIRP against the Corporate Debtor. Petition admitted - moratorium declared.
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