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2021 (10) TMI 540 - Insolvency & Bankruptcy
Maintainability 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:- As per Form V, Part IV of the application, the corporate debtor is liable to pay an outstanding sum of Rs. ₹ 4,00,000/- along with interest @12% p.a. The date of default as per part IV is 18.12.2019. The present application was filed on 28.02.2020, hence the debt is not time barred and the application is filed within the period of limitation - The Applicant has filed an affidavit under section 9(3)(b) dated 22.02.2020 affirming that no notice of dispute has been given by the corporate debtor relating to dispute of the unpaid operational debt - 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 complete and the Applicant is entitled to claim its dues, remained uncontroverted by the Corporate Debtor, as no dispute was raised against section 8 notice & reply to section 9 application was not filed on e-portal hence we proceeded the matter with hearing. The default in payment of the operational debt is beyond doubt and is established and even after order was reserved, on the day of clarification the corporate debtor requested to defer order for settlement but no settlement was forthcoming. The present application is admitted, in terms of section 9 (5) of IBC, 2016.
Application admitted - moratorium declared.