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2018 (4) TMI 1881 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- The Petitioner filed Certificate issued by IDBI Bank as required under Section 9(3)(c) of the Code and also filed Affidavit stating that no dispute has been raised by the Corporate Debtor - The Counsel for the Corporate Debtor appeared for the two hearings on 13.03.2018 and 19.03.2018, failed to appear on 03.04.2018, 05.04.2018, 13.04.2018 and 17.04.2018. Since the date of default was wrongly mentioned in the Petition the Counsel for the Petitioner was directed to rectify the defect in the Form 5 and serve a copy on the Corporate Debtor. Accordingly, the Petitioner complied with the direction and filed proof of service, however on 17.04.2018 also there was no representation on the side of the Corporate Debtor. This Bench having satisfied with the Application filed by the operational creditor which is in compliance of provisions of section B & 9 of the Insolvency and Bankruptcy Code admits this Application declaring Moratorium. Petition allowed.
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