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2022 (1) TMI 453 - 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 - time limitation - service of demand notice - HELD THAT:- The demand notice dated 05.11.2019 was sent through a registered post at the registered office of the Respondent. The postal receipt and tracking report are found to be attached on Page 251 of the Application. Whether the operational debt was disputed by the Respondent? - HELD THAT:- The Respondent Corporate Debtor has not filed a reply to the Demand Notice nor the instant Application. Moreover, despite service, there is no representation for the Respondent. Thus, there is no dispute as to the liability of the Respondent Corporate Debtor towards the Applicant Operational Creditor - The Applicant has filed an affidavit under Section 9(3)(b) of the Code to the effect that there is no notice given by the Respondent relating to the dispute of the unpaid operational debt. This Adjudicating Authority has held above that the demand notice in Form No. 3 was properly delivered by the Operational Creditor and no pre-existing dispute is proved. It has been shown that the Corporate Debtor has failed to make payment of the aforesaid amount as mentioned in the statutory notice to date. It is also observed that the conditions under Section 9 of the Code stand satisfied. Hence, this Adjudicating Authority is inclined to initiate CIRP against the Corporate Debtor as envisaged under the provisions of IBC, 2016. Application admitted - moratorium declared.
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