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2021 (10) TMI 1184 - NATIONAL COMPANY LAW TRIBUNAL , JAIPUR BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and default or not - time limitation - HELD THAT:- There are force in the submissions made on behalf of the petitioner, since the respondent-corporate debtor failed to show any valid proof that the debt due and payable to the petitioner in his individual capacity is paid to him in his individual capacity. The facts of the case further shows that the CP is filed within the period of limitation. The present petition being complete and having established the default in payment of the financial Debt for the default amount being above ₹ 1,00,000/-, the petition is admitted in terms of Section 7(5) of the IBC and accordingly, moratorium is declared in terms of Section 14 of the Code. Application allowed.
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