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2022 (3) TMI 865 - NATIONAL COMPANY LAW TRIBUNAL , HYDERABAD BENCHMaintainability of application - initiation of CIRP - Corporate debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - time limitation - Whether the documentary evidence furnished with the application shows that the aforesaid debt is due and payable and has not yet been paid? - HELD THAT:- The Applicant filed the record of default recorded in the information utility and contended that from the aforesaid undisputable facts and circumstances, existence of debt and the default are apparent on the face of the record of this case, as such, the Applicant is entitled for an order for initiation of CIRP against the Corporate Debtor - there is debt payable by the Corporate Debtor, which has not been paid. Whether financial claim by the Applicant is barred by limitation? - HELD THAT:- There are no force whatsoever in the contention of the Corporate debtor that the claim is barred by limitation. Firstly, for the reason that, in OA No. 2325 of 2017 filed by the Applicant against the Corporate Debtor no such plea has been raised, OA has been allowed and recovery certificate dated 29.11.2018 for realization of the same against the Corporate Debtor has been issued by DRT-II, Hyderabad - the present application having filed on 26.12.2019 is perfectly within limitation. The Adjudicating Authority admits this Petition under Section 7 of IBC, 2016, declaring moratorium for the purposes referred to in Section 14 of the Code.
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