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2022 (4) TMI 10 - NATIONAL COMPANY LAW TRIBUNAL , BENGALURU BENCHMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - clubbing of two separate operational debts - time limitation - existence of the debt and the liability - pre-existing disputes between the parties in respect of the claimed debts or not - HELD THAT:- There is no bar under the IBC from filing a single C.P., so long as the Operational Creditor and the Corporate Debtor are the same and the total claim crosses the minimum threshold limit. In the present case, the claim satisfy the said requirement. Since the instant C.P. filed before enhancement of threshold limit to Rs. One Crore, there is no impediment in entertaining the same - Even as per the Respondent/Corporate Debtor, the last invoice with regard to the Project Nitesh Flushing Meadows was issued on 23.03.2015. The instant C.P. was filed on 09.01.2018, i.e. well within the limitation period of three years. Hence the C.P. is within limitation. The other amount claimed is pertaining to 5% retention amount retained by the Respondent. The retention money was liable to be released immediately after expiry of 12 months from the date of raising the last bill on completion of the work in respect of 'Nitesh Logos' project. The last invoice was raised on 07.03.2015, which was duly paid by the Respondent. Hence the limitation of 3 years for the unreleased retention money commences on 07.03.2016 and since the instant C.P. having filed on 09.01.2018, is well within limitation. Once the maximum period from the date of completion of the project expire, and when there was no specific demand from the Respondent to complete any unfinished work or to repair any defective finished work, subsequent to completion of work, the Respondent is liable to release the retention amount to the Petitioner. Simply mentioning defect in work without specifically linking the same for returning the retention money, cannot be treated as a pre-existing dispute with regard to the retention money. Petition admitted - moratorium declared.
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