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2021 (10) TMI 1326 - 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:- This Bench observes that although, the Corporate Debtor has disputed its liability, however, there is nothing annexed with the Notice of Dispute dated 15.01.2020, which could suggest that there was a dispute existing, prior to the issuance of the Demand Notice. Further, there are no explanation given by the Corporate Debtor in its Notice of Dispute as to how the debt claimed by the Operational Creditor is not an Operational Debt. The Operational Creditor has succeeded in establishing the default on the part of Corporate Debtor in making payment of the operational debt. The Application filed under Section 9 fulfills all the requirements of the law - Application admitted - moratorium declared.
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