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2022 (3) TMI 1264 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - Operational Creditors - existence of debt and dispute or not - HELD THAT:- It is clear from the pleadings that the corporate debtor has admitted its liability towards the operational creditor in Demand notice as well as in reply. However, it failed to discharge its liability as the admitted amount remains unpaid as on date. It is worthwhile to mention here that this authority has to only satisfy itself regarding default in payment by the corporate debtor towards the operational creditor and there is no pre-existing dispute, the moment above conditions are fulfilled, this Adjudicating Authority has to admit the section 9 petition and in the present petition both the conditions are fulfilled. The Petition deserves to be admitted. Hence, this authority is inclined to initiate the CIR Process of Corporate Debtor. Accordingly, the captioned petition is admitted - moratorium declared.
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