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2022 (11) TMI 346 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - main defence raised by the Corporate Debtor is that the Financial Creditor has failed to failed to provide any certificate under section 65B(4) of the Evidence Act 1872 - HELD THAT:- The Financial Creditor has filed several documents to substantiate its contention that there is a debt which exists between the Financial Creditor and the Corporate Debtor. The Financial Creditor has filed a supplementary affidavit which is in substance is sufficient to corroborate the pleadings and the debt and default of the Corporate Debtor - The Corporate Debtor has only objected to the admission of the calculation sheet submitted by the Financial Creditor, but has not objected to the fact that the Corporate Debtor was not in default. From the Bank Statements filed in the Supplementary Affidavit, it is clear that the Corporate Debtor has defaulted in payment of the debt. The present petition made by the Financial Creditor is complete in all respects as required by law. The Petition establishes that the Corporate Debtor is in default of a debt due and payable and that the default is more than the minimum amount stipulated under section 4 (1) of the Code, stipulated at the relevant point of time. Petition admitted - moratorium declared.
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