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2018 (3) TMI 1930 - NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCHMaintainability 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:- The Operational Creditor issued Demand Notice dated 06.10.2017 in form No.3 demanding payment of outstanding amount within 10 days from the date of receipt of notice. However, the Corporate Debtor failed to pay the amount due. Further the Bankers of Operational Creditor viz. M/s Kotak Mahindra Bank & HDFC Bank, New Delhi vide their certificates dated 30.10.2017 and 06.11.2017 respectively have certified that they have not vencived the amount from the Corporate Debtor. Despite several reminders, when the Corporate Debtor failed to make payments, the Operational Creditor filed this company petition, seeking to initiate CIRP against the Corporate Debtor - The Company petition is filed under Section 9 of IBC. Petition admitted - moratorium declared.
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