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2020 (5) TMI 270 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - dishonor of cheexistence of debt and dispute or not - service of notice - HELD THAT:- In Alloysmin Industries v. Raman Casting P. Ltd. [2019 (3) TMI 194 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] of the hon'ble National Company Law Appellate Tribunal, on which the learned counsel for the petitioner, placed reliance, it was held that "if the demand notice under section 8 is served on the corporate debtor either on its registered office or its corporate office, it should be treated to be valid service of notice under section 8 and application under section 9 on failure of payment, if filed after 10 days, is maintainable" and hence the contention of the respondent's counsel that the demand notice not served at the registered office of the corporate debtor, is unsustainable. Since the respondent-corporate debtor have agreed and admitted its liability to pay the debt, and its default, by tendering a cheque of ₹ 61,46,231 to the petitioner-operational creditor, as evidenced by order dated May 24, 2019 of this Tribunal, which was subsequently dishonoured and since the application is otherwise, complete, there is no need to consider any other aspect, in view of the settled position of law, and accordingly, this petition is admitted. Petition admitted - moratorium declared.
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