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2021 (3) TMI 165 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of loan - Corporate Debtor denied the liability alleging that that the said amount was towards capital contribution and was not a loan - existence of debt and dispute or not - time limitation - HELD THAT:- It is evident from the record that the application has been filed on the Performa prescribed under Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 read with Section 7 of IBC. The application under Section 7 is complete - The last balance of confirmation is issued on 01.04.2017, the amount due was payable in the year 2019, the applicant approached corporate for payment of debt in April 2019 and the present application is filed on 04.09.2019. Hence, the application is within in the period and is not barred by limitation. The registered office of the Corporate Debtor is situated at Delhi and therefore this tribunal has jurisdiction to entertain and try this application. The application is complete and deserves to be admitted - application admitted - moratorium declared.
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