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2021 (5) TMI 279 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - Time limitation - service of notice - HELD THAT:- The notice was not delivered to the Corporate Debtor. It has been mentioned in the track-report "Out for delivery." In-short, there is not clear and convincing evidence produced on record by the Operational Creditor to prove the fact that before filing this application against the Corporate Debtor, the demand notice under Section 8 of the IB. Code was being served. For want of such evidence, it is held that this application is not maintainable. Time Limitation - HELD THAT:- It is a time barred debt because, according the Operational Creditor himself, the debt was due on 23.01.2013 when default occurred. This application is filed three years beyond that period and hence, it is time barred. This application is not maintainable on two grounds that there is no evidence of service of demand notice under Section 8 of the IB. Code and the debt is time barred - petition dismissed.
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