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2021 (6) TMI 276 - Tri - Insolvency and BankruptcyMaintainability of appeal - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors or not - time limitation - existence of debt and dispute or not - HELD THAT:- It is beyond doubt that the default has occurred with respect to the payment of the financial debt due to the Applicant. The disbursement of loan by the applicant is nowhere denied and the same is received and admitted by the corporate debtor. The confirmation of the statement of account by the corporate debtor reflecting the debit of the interest payable, on the said loan amount as agreed @10%p.a. confirms the receiving of the financial debt by the corporate debtor. Moreover, in their audited financial statements for the year ending 31.03.2017 & 31.03.2018, the said position of the financial debt is confirmed. As per Part IV Form 1 it is submitted that the date default is 09.09.2019 and the application is filed on 21.11.2019, which is well within the period of limitation and not barred by law - The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application - In the present application, the Applicant is entitled to claim its dues, establishing the default in payment of the financial debt beyond doubt. In the light of above facts and records the present application is admitted. Application admitted - moratorium declared.
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