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2022 (4) TMI 1363 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existenc eof debt and dispute or not - no response to the demand notice were given - HELD THAT:- The Operational Creditor, in Part-IV of the Application, has stated that total debt due and payable is, ₹ 11,75,995.96/-, inclusive of interest. The date of default is 15.08.2018. It is pertinent to note that the Operational Creditor has placed on record the demand notice along with invoices, ledger account, bank statements with its Application, stating that the Corporate Debtor itself had acknowledged the said invoices. Once the debt is shown as due, it is for the Corporate Debtor to prove that there are no outstanding dues to be paid to the Operational Creditor. The Corporate Debtor has in its reply acknowledged its liability to pay ₹ 2,57,572/-, being a part of the debt. However, no such payment has been made by the Corporate Debtor. Further, the corporate debtor has stated about the existence of some dispute with regards to the material supplied. However, no documents/communication has been annexed to prove the existence of any dispute. Hence, it appears to be an illusionary dispute. The present application is complete and the Operational Creditor is entitled to claim its dues, establishing the default in payment of the operational debt beyond doubt, and fulfillment of requirements under section 9(5) of the Code. Hence, the present application is admitted. Application admitted - moratorium declared.
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