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2019 (9) TMI 1665 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - time limitation - HELD THAT - It is evident that despite notice sent by the OC to CD on 13.11.2017 and which it is stated to have been delivered on the next day and despite receipt of demand notice since no payment has been received nor reply sent denying the claim as raised by the OC against the CD the Petitioner is before this Tribunal seeking for the initiation of Corporate Insolvency Resolution Process (CIRP) of the CD. Upon notice the Corporate Debtor is being represented by Mr. Ritwil Mittal Advocate who has filed reply to the main Company Petition more particularly preliminary objections have been raised for the maintainability of the Petition on the grounds of limitation. This Tribunal is of the view that the Debit Note which has been raised on 31.3.2016 and which has been incorporated in the Ledger Account has been made for the purpose of these proceedings and which clearly shows that this Petition is time barred and obviously filed beyond the period of limitation. Petition dismissed.
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