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2019 (7) TMI 1843 - NATIONAL COMPANY LAW TRIBUNAL NEW DELHIMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditor - existence of debt and dispute or not - territorial jurisdiction - Service of notice - HELD THAT:- The points raised by the Respondent are all technical in nature. The arbitration clause in the MOU cannot be a bar for the present proceedings as the Code will prevail over such a clause by virtue of Section 238 of the Code. Similarly, the argument on territorial jurisdiction is not acceptable as Section 60 of the Code provides that the territorial jurisdiction e decided according to the location of the registered office of the Respondent. The applicant has also cured the defect of not enclosing the bank certificate by filing the necessary bank certificate under Section 9(3)(c) of the Code. The Applicant has established clearly that there exists debt and default on the part of the Respondent. The Respondent has not raised any dispute prior to the issuing of the notice under Section 8 of the Code by the Applicant. Application allowed - moratorium declared.
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