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2021 (8) TMI 625 - NATIONAL COMPANY LAW TRIBUNAL , CHENNAI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - time limitation - date of default is 02.06.2014 and the Application has been filed on 16.10.2019 - HELD THAT:- Apart from the decree passed by the Principal District Judge, Kadapa on 02.06.2014, the Operational Creditor has not attached any other document in order to show proof of the debt. Further, in Part-IV of the Application, the Operational Creditor has mentioned the date of default clearly as 02.06.2014 and it is an undisputed fact that the present Application has been filed before this Tribunal on 16.12.2019. Also, the Operational Creditor has failed to place on record any document to show that the debt claimed by them, is well within the period of limitation. The Operational Creditor has clearly slept over his rights to enforce the purported decree in accordance with law against the Corporate Debtor within the stipulated limitation period and is now attempting to use this forum as a Court of execution and the Hon'ble Supreme Court in the matter of MOBILOX INNOVATIONS PRIVATE LIMITED VERSUS KIRUSA SOFTWARE PRIVATE LIMITED [2017 (9) TMI 1270 - SUPREME COURT] has categorically held that this Authority should not be used as a Court of execution. The debt as claimed by the Operational Creditor is time barred and the Operational Creditor has failed to place on record any iota of document recognized under the law to substantiate that the debt falls well within the period of limitation - the debt as claimed by the Operational Creditor is time barred and as such the Application filed by the Operational Creditor stands dismissed as not maintainable.
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