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2022 (2) TMI 95 - NATIONAL COMPANY LAW TRIBUNAL , CHANDIGARH BENCHMaintainability 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 - proper service of demand notice - HELD THAT:- The demand notice was delivered via speed post at the registered address of the Corporate Debtor. The original postal receipts are attached as Annexure-8 of the petition. In view of the same, it is held that the demand notice has been duly served. Whether the operational debt was disputed by the corporate debtor? - HELD THAT:- It is submitted in short reply by the Corporate Debtor vide Diary No.00341/01 dated 15.12.2021 that the Corporate Debtor in the e-mail dated 29.12.2018 admits the outstanding payment to the extent of principal amount only. The said e-mail has also been annexed in the main petition as Annexure A-7 at page No.25. It is also submitted by the Corporate Debtor that it is unable to pay the any of amount due and has become financially unviable. Time Limitation - HELD THAT:- The default occurred from 01.05.2019 and the petition is filed on 27.09.2019, hence the debt is not time barred and the petition is filed within the period of limitation. It is noted that the corporate debtor has failed to make payment of the aforesaid amount due as mentioned in the statutory notice till date. Thus, the conditions under Section 9 of the Code stand satisfied. The petitioner states that from the abovementioned facts it is clear that the liability of the corporate debtor is undisputed. Accordingly, the petitioner proved the debt and the default, which is as per the threshold limit before the Notification S.O.1205(E) dated March 24, 2020 - the present petition is complete and the petitioner is entitled to claim its dues, which remain uncontroverted by the Corporate Debtor, establishing the default in payment of the operational debt beyond doubt. In the backdrop of the above facts and records, the present petition is liable to admitted, in terms of Section 9(5) of IBC, 2016. Petition admitted - moratorium declared.
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