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2020 (5) TMI 321 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make payment of dues - existence of debt and dispute or not - HELD THAT:- In annexure P18 dated July 5, 2015 of the respondent-corporate debtor written to the petitioner, categorically admitted and acknowledged the debt of ₹ 3,72,19,060 due to the petitioner. Thereafter, after adjusting the amount paid by the respondent-corporate debtor, the debt due was ₹ 2,66,82,849 and after adding the interest thereon the total amount of debt due and in default was ₹ 6,36,10,875. Annexure P5/A of the petition, i. e., the certificate under section 9(3)(c) of the IBC Code, 2016 issued by the State Bank of India also confirms the admission and part payment of various amounts by the respondent-corporate debtor to the petitioner - The petitioner proved the debt and the default, which is more than ₹ 1 lakh by the respondent-corporate debtor. Since the petition is complete in all respects, the same is admitted - moratorium declared.
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