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2021 (9) TMI 583 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to repay the dues despite receiving Demand Notice, nor replied to the notice, nor repay the outstanding amount - Operational Creditors - existence of debt and dispute or not - time limitation - HELD THAT:- The Corporate Debtor Mr. Vinod Sharma has admitted the existence of debt and default and in view of the above correspondence the debt and default in this case is establish and the above company petition is liable to be admitted. The petitioner also suggested the name Mr. Manish Motilal Jaju as Interim Resolution Professional and enclosed the consent letter given by the proposed IRP in Form-2. The above company petition is complete in all respects. Time Limitation - HELD THAT:- The present petition is filed on 15.06.2021, and the amount is less than ₹ 1 crore. But the default occurred on 01.12.2019, hence Section 10A will not affect the present petition from getting admitted. This tribunal is of the considered opinion that the company petition is liable to be admitted - Petition admitted - moratorium declared.
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