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2021 (6) TMI 356 - 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:- The default, on the part of the Corporate Debtor is proved from the documents filed and the submissions made by the Learned Counsel by the Operational Creditor. Further, it is also pertinent to note that the default arising in the present Application is much prior to the advent of the Covid-19 pandemic and hence the Corporate Debtor cannot seek shelter also under Section 10A of IBC, 2016. Under the said circumstances, this Tribunal is left with no other option other than to proceed with the present case and initiate the Corporate Insolvency Resolution Process in relation to the Corporate Debtor. Time Limitation - HELD THAT:- It is evident from the perusal of the Invoices as filed by the Petitioner/Operational Creditor in relation to the Corporate Debtor which discloses that the invoices have been raised commencing from 31.03.2016 to 09.12.2017 and the account being maintained on a running account basis, the present Application under Section 9 of IBC, 2016 has been filed by the Operational Creditor before this Tribunal on 26.09.2019 and as such it falls well within the period of limitation. The Petition as filed by the Operational Creditor is required to be admitted under Section 9(5) of the IBC, 2016 - moratorium declared.
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