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2020 (4) TMI 508 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and dispute or not - HELD THAT:- This Adjudicating Authority is satisfied that, (a) Existence of debt is above Rs. One Lac; (b) Debt is due; (c) Default has occurred on 08/06/2017; (d) Petition has been filed within the limitation period as the date of default is 08/06/2017 and the petition has been filed on 20/07/2018. (e) Inspite of giving Demand Notice in Form No. 3 as required by Section 8 of the IB Code read with Rule 5 of the IB Rules and Publication of notice in the newspaper Respondent did not choose to give any reply. (f) Copy of the Application filed before the Adjudicating Authority has been sent to the Corporate Debtor, Paper publication was done and the application filed by the Petitioner under section 9 of IBC is found to be complete for the purpose of initiation of Corporate Insolvency Resolution Process against the Corporate Debtor. Petition admitted.
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