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2022 (3) TMI 811 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI 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 - whether this application filed on 28.06.2021 claiming the default amount of ₹ 5,22,852.25/- as on 05.08.2020 is maintainable or not? - HELD THAT:- In the Part IV of the application, it is stated that the defaults were occurred as on 14.07.2017 and 31.08.2017. If these dates are taken as the last invoice dates this application was filed on 28.06.2021 which is beyond three years from that dates is barred by limitation as the three-year period expired long back. Moreover, in view of the Notification No. 1205(E) dated 24.03.2020 issued by the Ministry of Corporate Affairs specifying Rupees One Crore as the minimum amount of default and that this application has been filed on 18.06.2021 claiming the due amount of ₹ 5,22,852.25/-, on that count also this application is not maintainable. The amount had fallen in default as on 14.07.2017 and 31.08.2017 and the demand notice served only on 06.12.2019. There was a huge delay in sending the demand notice to the Corporate Debtor and the Operational Creditor did not mention any valid reason for that delay, and this application has been filed claiming the due amount of ₹ 5,22,852.25/- which is below ₹ 1 Crore fixed vide Notification No. 1205(E) dated 24.03.2020 issued by the Ministry of Corporate Affairs. Hence, this application for initiation of CIRP against the Corporate Debtor cannot be entertained. Application dismissed.
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