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2022 (10) TMI 200 - 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 - HELD THAT:- A perusal of the balance confirmation letter dated 10.09.2020 acknowledging the debt of an unsecured loan Rs. 21,412,338/- with an interest payable @12% i.e. 66,08,242/- together of Rs. 2,80,20,580 payable thereon, the Annual Tax Return FORM 26AS for the financial year 2019-20 also discloses lending by the Financial creditor and the tax deducted on the amount credited to the account of the corporate debtor from the financial creditors account - it is convincing that financial debt of sum over one crore was due and payable by the corporate debtor stands established and as there is no material placed by the corporate debtor discharging the debt we hold that existence of a Financial debt and its default by the corporate debtor has been established. Application admitted - moratorium declared.
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