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2022 (5) TMI 1463 - Tri - Insolvency and BankruptcyMaintainability of petition - 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:- As per tracking information, the Demand Notice dated 21.01.2019 under section 8 dated 21.01.2019 has been duly delivered to the Corporate Debtor. This fact has remained uncontroverted during the course of hearing. Therefore, the contention of the Corporate Debtor regarding non-receipt of Demand Notice is rejected. Affidavit under Section 9(3)(b) of IBC has also been filed. The last payment was made on 24.08.2018 and this petition has been filed on 18.11.2019. Therefore, the petition is filed well within limitation in terms of provisions of section 19 of the Limitation Act, 1963 - It is further noted that the Corporate Debtor, vide its letter dated 10.04.2018, has also confirmed and admitted that the amount is due and payable. Therefore, there is really no defence to the section 9 petition. The petition filed under section 9 is complete in all respects. The outstanding amount is more than the threshold limit of ₹1,00,000/- (Rupees one lakh) only existing at the time of filing of the petition. The petition is also well within the limitation. There is no pre-existing dispute of any kind that inhibits the admission of the present petition. Petition admitted - moratorium declared.
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