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2021 (8) TMI 20 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational creditor - existence of debt and dispute or not - case of respondent is that the corporate debtor has made certain payments for which corporate debtor has no proof and the Corporate Debtor Company is being run by a first generation lady entrepreneur and if the Corporate Debtor was pushed into CIRP it would cause great prejudice to the promoter of the company - HELD THAT:- The corporate debtor did not place any FIR before this tribunal to show that the said police report against the said Ankit Gupta was acted upon by police. Even otherwise the Operational Creditor is not responsible for the said acts of the staff member of the corporate debtor as the corporate debtor alone is vicariously liable as a master for the acts of it’s employees/servants. Even otherwise the Operational creditor issued demand notice for a balance amount of ₹ 9,50,000/- and even if the alleged discharge of ₹ 6,00,000/- is accepted assuming for a moment without admitting for argument sake, the Corporate Debtor still ows ₹ 3,50,000/- (which is more than 1,00,000/-) which is enough for admission of the company petition. Therefore, it is not legally correct to accept the contentions of the corporate debtor. Keeping in mind its previous conduct coupled with the absence of evidence with regard to the discharge of ₹ 6,00,000/-. There are no warranting grounds to dismissed the company petition and accordingly, the above company petition is admitted by passing the following order - Petition allowed - moratorium declared.
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