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2020 (3) TMI 28 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and default or not - service of SCN - whether the demand notice in Form No. 3 dated 17.12.2018 was properly served? - HELD THAT:- The demand notice dated 17.12.2018 was sent at the address as per the master data at Page No. 27 of the petition in which the registered office is shown as B-363, 364 & 365, Nehru Ground, NIT, Faridabad, Haryana - 121001. Also, the postal receipts alongwith the tracking reports showing successful delivery of the notice are found to be attached with Annexure H of the petition. Therefore, the statutory demand notice was duly delivered upon the corporate debtor. Whether the operational debt was disputed by the corporate debtor? - HELD THAT:- The respondent in its reply dated 27.09.2019, wherein it is specifically stated in Para No. 8 that as per the ledger account maintained by the respondent-corporate company in respect of the petitioner was certified and provided to applicant on 26.06.2018 acknowledging the existing debt and liability was of ₹ 22,78,708/-. Thus, there is no dispute as to the liability between the corporate debtor and the operational creditor. It has been proved beyond doubt that the corporate debtor has failed to make payments of the aforesaid amount due as mentioned in the statutory notice till date. As a statutory requirement under section 9(3)(c) of the Code, an affidavit dated 03.04.2019 has been placed by the operational creditor stating that no notice is given by the respondent-corporate debtor in terms of Section 8(2)(a) of the Code and the corporate debtor has not brought the notice the existence of any dispute in relation to the unpaid operational debt - It is also observed that the conditions under section 9 of the Code stand satisfied. The applicant-operational creditor states that the liability of the respondent-corporate debtor is undisputed. The petition for initiation of the CIRP process is admitted - moratorium is declared.
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