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2021 (5) TMI 211 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor defaulted in payment of dues - Operational Creditor - existence of debt and dispute or not - existence of debt and dispute or not - time limitation - HELD THAT:- Pursuant to the demand made by operational creditor 08.10.2019, the corporate debtor sent emails on 08.08.2019 and 17.08.2019 questioning as to on what basis the claim was made from 21.07.2019 to 16.08.2019 though the work was completed as early as 21.07.2019 and thereby denied liability arising out of the second work order dated 17.07.2019. The operational creditor has not furnished the reason for the claim on the aforesaid period. The operational creditor had manipulated second log book by forging signatures and compelled the authorized person of the corporate debtor to sign in the manipulated log book - On 17.11.2020, the corporate debtor sent a reply legal notice denying the liability to the tune of ₹ 42,02,000/- as claimed by the operational creditor. Inspite of raising disputes over the second tax invoice by email communications, the operational creditor filed an affidavit on 21.01.2020 before this Tribunal stating that the corporate debtor has not raised any dispute with respondent in respect of the debt. Upon perusal of pleadings and documents, it is clear that there is outstanding debt due and payable by Corporate Debtor to Applicant towards hiring charges of cranes. The terms and conditions in work order do not say that only if the cranes are put to use, the hiring charges shall be paid. Once based on work order, the equipment on rental basis is availed by respondent and also acknowledged by respondent, the respondent ought to settle the outstanding dues, irrespective of the fact whether the equipment was under utilisation or not - thus the 'debt' and 'default' is proved by the Applicant. Application admitted - moratorium declared.
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