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2020 (1) TMI 1494 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditor - debt is due and default or not - Service of demand notice - minimum threshold limit fixed under IBC - HELD THAT:- Since the debt is due and default was admitted by the Corporate Debtor/respondent in his reply. So, under such circumstances, the petitioner has completed all the provisions mentioned in section 8 of the IBC, 2016 and there is default of payment which was due. Hence, we think it proper to admit this petition. It is seen that, there is default in payment & there is some operational debt of ₹ 20,87,082/- and no dispute has been raised by the Corporate Debtor. Since, the amount in default is more than ₹ 1,00,000/- is being the minimum threshold limit fixed under IBC, 2016. Under such circumstances this Adjudicating Authority is inclined to admit this petition and initiate CIRP of the respondent. Petition admitted - moratorium declared.
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