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2021 (5) TMI 133 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditor - existence of debt and dispute or not - time limitation - pecuniary jurisdiction - HELD THAT:- The Operational Creditor has proved existence of 'debt' and 'default'. Moreover, this application was filed on 30.09.2019. The pecuniary jurisdiction of this Adjudicating Authority, at the time of filing this application was debt due Rs. one lakh and above. Hence, this Adjudicating Authority has jurisdiction to adjudicate this petition. The registered office of the Corporate Debtor is also within the State of Tamilnadu, hence this Adjudicating Authority has jurisdiction. The alleged debt due is between the period from 01.04.2018 to 17.07.2019. Hence, it is well within the period of limitation. The Corporate Debtor has made part payment towards outstanding. The last payment of a sum of ₹ 2,00,000/- was pending. The Corporate Debtor issued cheques and failed to honour the same. This Adjudicating Authority is inclined to admit the Application as has been filed by the Operational Creditor and consequently Corporate Insolvency Resolution Process is initiated - Petition admitted - moratorium declared.
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