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2020 (11) TMI 243 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Debt relates to invoice raised for audit fees and other professional work done in the Financial Year 2017-2018 and 2018-2019 - time limitation - HELD THAT:- The amount of debt is more than ₹ 1 lacs which is not barred by law of limitation. The said amount has not been paid and no plausible defence has been put forward by Corporate Debtor. The Applicant has also provided MCA Data of the Corporate Debtor. The application is otherwise complete and defect free. It is also noted that no disciplinary proceedings are pending against the IRP whose consent is on record. Hence, he can be appointed to conduct Corporate Insolvency Resolution Process (CIRP). Application admitted - moratorium declared.
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