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2021 (12) TMI 287 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- The Corporate Debtor has taken objection regarding some pre-existing dispute between the parties regarding services provided by the Applicant. Further, it is stated by the Corporate Debtor that it had suffered losses due to conduct of the Applicant during his tenure. It is further submitted by the Corporate Debtor that no amount is due towards the Corporate Debtor since a sum of ₹ 15 Lakhs in cash has already been paid to the Applicant - there is no necessity of going into the issues alleged by the Corporate Debtor as there is a specific admission made by the Corporate Debtor as regards to the undisputed debt of ₹ 9 Lakhs which is due and payable by it to the Applicant and which is more than the threshold limit ₹ 1,00,000/-. The same is clearly recorded in the order of this Adjudicating Authority dated 27.01.2021. Since the admission of debt made on part of the Corporate Debtor is for an amount, which is more than ₹ 1,00,000/-, therefore the same is sufficient to trigger CIR Process against the Corporate Debtor. Thus it is concluded that a default has occurred on part of the Corporate Debtor and the same has also been admitted by the Corporate Debtor - application admitted - moratorium declared.
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