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2020 (6) TMI 524 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of debt and dispute or not - time limitation - Jurisdiction - HELD THAT:- The corporate debtor has tried to create and raise a pre-existing dispute by asserting the sub-standard services were rendered by the applicant and was raised only after application filed under section 9 - The corporate debtor has not placed on record any document which exhibits the plausible dispute between the parties. It can be thus inferred that there is no merit in the so-called dispute raised by the corporate debtor in reply to the application. On the contrary there is an admission by the corporate debtor to do the payment upon receiving the payment from TATA projects, Ahmedabad Metro vide reply to section 8 notice through its email dated 25-5-2019. This leaves no doubt that the default has occurred with respect to the payment of the operational debt of the applicant. Time limitation - HELD THAT:- The date of default occurred from 16-4-2018 and hence the debt is not time barred and the application is filed within the period of limitation. Jurisdiction - HELD THAT:- The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. The present application is complete and perusing the documents on records it goes beyond doubt that the Applicant is entitled to claim its dues, which is admitted by the Corporate Debtor vide its letter dated 25-5-2019, establishing the default in payment of the operational debt. The application is complete as per the requirements of section 9 of the code and in the light of above facts and records the present application is admitted - Application admitted - moratorium declared.
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