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2022 (8) TMI 545 - 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 - HELD THAT:- It is noted that the Operational Creditor has supplied the goods to the Corporate Debtor and raised an invoice of Rs. 5,51,933/-. The copy of invoices along with delivery challan is annexed at page no. 12 to 123. The demand notice was issued by the Operational Creditor on 11.12.2019 and same was delivered to the Corporate Debtor on 17.12.2019. This Adjudicating Authority vide order dated 25.02.2020 again directed to the Operational Creditor to supply the copy of the application and inform the Corporate Debtor to appear and contest this present application but no one appeared on behalf of the Corporate Debtor. Hence, this Adjudication Authority vide order dated 08.03.2021 decided to proceed Ex-parte against the Corporate Debtor. Even after giving sufficient opportunities to the Corporate Debtor, none appeared on behalf of the Corporate Debtor. The present application is complete in view of Section 9(5) of the IB Code, 2016. The present application has been filed on 01.01.2020 and the claim amount of Rs. 8,58,956/- meets the threshold limit as prescribed under Section 4 of the IB Code, 2016. It is also well within the limitations. Thus, it is found that the present IB Petition is complete and fit for triggering the Insolvency Resolution Process in respect of Corporate Debtor. Therefore, the present IB Petition, filed under Section 9 of the Code, deserves admission - petition admitted - moratorium declared.
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