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2021 (6) TMI 485 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor committed a default in payment of its dues - existence of debt and dispute or not - HELD THAT:- A perusal of the proceedings over the last one year shows that none has appeared for the Respondent to defend the case made out by the Petitioner u/s. 9 of the Code. It is seen that on many occasions the notices were not served upon the Respondent. Notices issued by this office on the Corporate Debtor and its MD were returned as no one was found at the address. Several attempts were made by the Respondent to serve notices, under directions issued by this office. However on two occasions notices are stated to have been served. While it is noted that the operational debt is owed to the Petitioner Operational Creditor, and the Respondent cannot be allowed to thwart these proceedings by remaining absent, we still consider it necessary to allow time to the Petitioner to place on record all such evidence with regard to service of notice on the key managerial personnel of the respondent company, their being available, the status of the company etc. such that the ordering of CIRP would be a meaningful exercise. Petition disposed off.
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