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2021 (9) TMI 384 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - time limitation - HELD THAT:- The Corporate Debtor made cash payments through NEFT into almost all the accounts in July 2017. The Company Petition being filed on 18.12.2019 is less than the 3 years from the date last payment and is within limitation. The counsel appearing for the Financial Debtor submitted that the debt and default are clearly established, and debt is also within limitation in the Company Petition. The learned counsel appearing for the Corporate Debtor was present at the time of final arguments on 06.08.2021, he did not raise any legal issues opposing the company petition except making statement that the Corporate Debtor has submitted One Time Settlement to the Financial Creditor. Thus, the present Company Petition satisfies all the necessary requirement for admission and the claim of Financial Creditor remained unchallenged. This tribunal is of the considered opinion that the company petition is liable to be admitted - petition admitted - moratorium declared.
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