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2018 (5) TMI 2098 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - Operational Creditors - Case is being transferred from High Court - Section 8 Notice was issued after the service of Main Petition - HELD THAT:- Admittedly this case had been transferred from the Hon’ble High Court and in such transferred cases the requirement is to submit all information forming part of the records transferred from the Hon’ble High Court and the Petition is to be Admitted U/s. 7, 8 or 9 of the Code. The other admitted position is that while the old Petition was filed before the Hon'ble High Court a Notice was issued on 03.03.2015 under the provisions of Section 433(e) of the Companies Act. That Notice was a legal Notice stating all the facts of the Debt in question along with requisite evidences such as Invoices etc. to establish the genuineness of the Debt. Notification No. GSR 1119(E) dated 07.12.2016 notified for Transfer of Proceedings Rules, 2016 is worth mentioning. Considering the Notification issued and on comparing with the provisions of the Code it is logical to hold that there is no legal requirement to issue Notices of Demand repeatedly. The duplicity of issuance of Notice of Demand is not a requirement of Law. he Debt and the occurrence of default is established. Accordingly, this Petition under consideration deserves to be “Admitted” - petition admitted - moratorium declared.
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