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2022 (1) TMI 452 - Tri - Insolvency and BankruptcyMaintainability 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:- It is seen from the records that this Tribunal had given sufficient chances to the Corporate Debtor to file its Reply. However, the Corporate Debtor failed to appear and did not file its Reply. This act itself shows that the amount is due and payable to the Operational Creditor - the Operational Creditor filed an Affidavit of Service dated 17.08.2021. This bench observes that the Operational Creditor has served and intimated the date of hearings to the Corporate Debtor on several occasions and finally the Corporate Debtor was set to be ex-parte vide Order dated 01.11.2021. The Operational Creditor has successfully demonstrated and proved the debt and default in this case and has also proved that there is absolutely no reason for the Corporate Debtor to hold on to the payment of the invoices - this Bench is left with no option except to admit the above Company Petition, since the Company Petition in hand satisfies all necessary legal ingredients for admission under Section 9 of the Code. Petition admitted - moratorium declared.
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