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2021 (6) TMI 166 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - non-payment of installments/interest/principal debt, the account of the corporate debtor has been classified as non performing asset - Section 13(2) of SARFAESI Act, 2002 - HELD THAT:- It is beyond doubt that the default has occurred with respect to the payment of the financial debt due to the Applicant. Debt is confirmed as per the confirmation letter issued by the corporate debtor on 01.12.2016 and also the debt is authenticated as per the records of the information utility services (the certificates annexed),there is no doubt left that the debt is due. Even after issuance of notice under section 13 (2) of SARFAESI Act, the debt is not serviced and proceedings before DRT were initiated. Though the DRT has declared that the declaration of account of corporate debtor as NPA was illegal and the same was quashed, but the fact still remains that the debt is unpaid. That in the present case, the date of default was mentioned as the date of declaration of NPA as 02.12.2016. In view of the quashing of the declaration of the account of the corporate debtor as NPA, the date of default now can be considered as date of default as recorded in the certificate of information utility services which is 03.09.2016. The application is filed on 12.03.2019, which is well within the period of limitation and not barred by law - The Applicant is entitled to claim its dues, establishing the default in payment of the financial debt beyond doubt. Application admitted - moratorium declared.
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