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2022 (5) TMI 1202 - 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:- To prove the existence of debt and its default by the Corporate Debtor, the Corporate Debtor, the Operational Creditor relied on certificate of debt and its default issued (from information utility, Annex.-"L") All relevant invoices are produced at Annex.-K. A copy of demand notice served under Section 8 of IBC is also annexed at Annex.-"F". It has been delivered to the Corporate Debtor by post. The postal track report is also on record as Annex-"G" - It is not in dispute the Corporate Debtor did not reply the demand notice. Although, the Corporate Debtor submitted and contended that nothing is due and payable but the record reveals that is has sent an email dated 11.07.2019 to the Operational Creditor admitting that certain money is due and payable. There is sufficient evidence and materials on record to hold that the Corporate Debtor has committed default in paying the operational debt of more than rupees one crore in-spite of receipt of the demand notice - It is also noted that certain orders passed in daily proceedings wherein, the Corporate Debtor made statement and sought time to make that it will settled that the dispute and sought some time to make the payment. Be that as it may, the evidence and material on record has proved that, in-spite of receipt of the demand notice, the Corporate Debtor committed default in paying the operational debt of more than rupees one crore. The Corporate Debtor did not produce defense worth to contest this application. This application is free from defects - application allowed.
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