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2021 (8) TMI 416 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and default or not - validity and service of statutory demand notice - HELD THAT:- Though, the demand notice sent to the registered office address was not delivered but the notices sent to Corporate Office address and Okhla address have been duly delivered and served on the respondent-corporate debtor. The respondent-corporate debtor while not denying the service of the demand notice at its Corporate Office address and Okhla office address submits that since the demand notice was not served at its registered office address, the same cannot be treated as valid service - It is settled position of law that service of demand notice at the Corporate Office address or any other address where the corporate debtor regularly is having its operations shall be deemed to be a valid and due delivery of notice - decided in favor of petitioner. Existence of debt and default or not - whether the petitioner proved the debt and the liability of the respondent-corporate debtor to pay the same? - HELD THAT:- The petitioner, inspite of the specific averments made by the respondent-corporate debtor in its reply, has not chosen to dispute the same by filing any rejoinder to the said reply. The petitioner has also not denied the contention of the corporate debtor that the invoices raised in respect of Season 3 were not in accordance with the work done and the amount for the service was over charged and accordingly, an amount of ₹ 1 crore has been paid in full and final settlement of all the claims in respect of Season 3 - In the absence of specific denial of the averments made by the corporate debtor and since the petitioner failed to prove the debt and the liability to pay the same by the corporate debtor, this issue is held against the petitioner. Petition dismissed.
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