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2017 (11) TMI 1978 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditor - settlement of arrears of salary - time limitation - HELD THAT:- The defence taken by the Respondent/ Corporate Debtor is highly contradictory, if the dues of the employee have been settled, and there is nothing outstanding, then, the argument that the claim is barred by lirnitation does not carry any weight. The other defence that has been taken by the Respondent/ Corporate Debtor is that it has paid on 31.07.2015 as arrear of salary. In support of the same, they placed on record 'payment voucher' filed with the Written Arguments which goes to show that the entry 'pay to' is filled with name "N. Subramanian"; entry 'Rupees' is filled with words "Two Lakh and Ten Thousands only" and entry 'Rs. ' is filled with amount, "2, 10,000/-". These are being written in one hand writing. However, entry 'debt' is filled with the words "salary arrears" and entry '(particulars)' is filled with the words "full & final settlement of salary as on date" which are in different hand writing. The 'payment voucher' per se reflects that a fraud is being played on the Petitioner/ Operational Creditor, which can easily be identified with the naked eyes. Therefore, the entries relating to the "salary arrears" and "full & final settlement of salary as on date" seem to have been entered with mala fide intention to show that the amount paid is full and final settlement of the arrears of salary, which in no circumstances could be relied upon. The Corporate Debtor defaulted in making payment arrears of the salary to the Petitioner/ Operational Creditor. The Operational Creditor has complied with requirements under Sections 8, 9 (3) (b) (c) of I&B Code, 2016 and has made out a case for admission of the Application under Section 9 of the Insolvency and Bankruptcy Code, 2016. Application admitted - moratorium declared.
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