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2022 (2) TMI 417 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- It is seen from the records that the applicant was relieved from its services w.e.f. 01.11.2018. From bare perusal of the relieving certificate it is revealed that there was no dispute pending between the applicant and the Corporate Debtor. The Corporate Debtor has not placed any documents establishing the fact that the applicant has breached the terms of its employment agreement. Mere allegation without any supporting evidence would not help the Corporate Debtor - As far as the loan taken by the applicant is concerned the applicant has already adjusted that amount from salary dues claimed in demand notice. The corporate debtor has failed to establish the fact that there is any pre-existing dispute between the parties. The Corporate debtor has also failed to prove that the salary dues are not payable to applicant or has already been paid off. It is clearly established that the default in payment of the operational debt has occurred by the corporate debtor - it can be concluded that the applicant has established its claim which is due and payable by the corporate debtor. The present application is admitted - Moratorium is declared.
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