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2019 (1) TMI 1907 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existenc eof debt and dispute or not - service of demand notice - HELD THAT:- The demand notice was sent by electronic mode which is one of the permissible modes of service - Sub-rule (2) of Rule 5 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 makes it clear that the notice could either be sent by hand, registered post or speed post or by electronic mail service to a whole time director or designated partner or key managerial personnel of the corporate debtor. The instant petition was filed on 15.05.2018 i.e. much after the expiry of 10 days period as required under Section 9 of the Code. The learned counsel for the petitioner referred to the affidavit of the proprietor of the operational creditor in which it is stated that no dispute of unpaid operational debt has been received from the corporate debtor in order to comply with the requirement of Section 9(3)(b) of the Code - The petitioner has also filed the bank statement issued by Axis Bank where the petitioner is maintaining account and the credits were being received from the corporate debtor, though certificate in terms of Section 9(3)(c) of the Code has not been filed but we find that the same being not mandatory and the statement of accounts filed by the petitioner would be sufficient. All the ingredients of clause (i) of Sub-section (5) of Section 9 of the Code have been fulfilled by the petitioner. The petition filed under Section 9 of the Code is, therefore, admitted - moratorium declared.
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