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2021 (5) TMI 395 - 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 - HELD THAT:- Though there is no specific date of default mentioned but considering the various work orders and invoices against which the payment is due the date of default is varying from December 2017 to Feb 2019 and the present application is filed on 08.08.2019. Hence the application is not time barred and filed within the period of limitation - 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 filed on the Performa prescribed under Rule 6 of the Insolvency and Bankruptcy Code, 2016 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 r/w Section 9 of the code and is complete. There exists an operational debt which is due and payable by the corporate debtor. Further with respect to the maintainability of an application, withregards the issue that whether for various claims arising out of separate work orders, single application can be filed by operational creditor - Once the work is complete and final bill is raised, the retention money becomes due and payable. The corporate debtor vide email communication and in its reply to this application had categorically admitted that a sum of ₹ 8,40,000/- is outstanding due and payable to the applicant towards work order ICC-Patna. Though, the corporate debtor has raised dispute prior to issue of the Demand Notice with regards tonon-completion of work on time, defective work and invoices raised, but has itself admitted that retention money is payable - Also, the amount of a debt more than 1 Lakh, which in this case s admitted by the corporate debtor, and the said has become due as per their own statement in their email dated 08.10.2018, leaving no scope for any further adjudication. The application is admitted - moratorium declared.
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