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2018 (5) TMI 2100 - 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 - time limitation - HELD THAT:- Since the amount of debt claimed is ₹ 2,54,84,828/- which is above 1 lakh and the default occurred on 24.07.2017, the debt is not time barred and the application is filed within the period of limitation - As the registered office of the Corporate Debtor is in Delhi, so the matter falls within the territorial jurisdiction of this Tribunal. The parameters to initiate CIRP as required under Insolvency and Bankruptcy Code are duly complied with and the application is complete - Corporate Debtor despite repeated service has not appeared before this Tribunal and existence of a default of debt due to the Applicant is established. The Tribunal is of the considered view that this application requires to be admitted and that CIRP process is required to be initiated against the Corporate Debtor. Application admitted - moratorium declared.
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