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2022 (4) TMI 1364 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dispute - Operational Creditors - existence of debt and dispute or not - time limitation - HELD THAT:- Despite sufficient opportunity given to the Corporate Debtor, no appearance was filed before this Tribunal. Notice was issued by the Registry on 28.02.2022 and as per the tracking report available on record the same was delivered on 01.03.2022 at the registered office of the Corporate Debtor. The Respondent Corporate Debtor was set ex-parte by order dated 08.03.2022, on said date too the matter was passed over and was taken up again. During the next hearing on 01.04.2022, the matter was passed over due to non-representation of the Respondent and taken up later, however none represented the Respondent and no IA was filed for setting aside ex-parte order. Further, it is also pertinent to note that the default arising in the present Application is much later to the timeline prescribed under Section 10A of IBC, 2016. Under the said circumstances, this Tribunal is left with no other option than to proceed with the present case and initiate the Corporate Insolvency Resolution Process in relation to the Corporate Debtor. Application admitted - moratorium declared.
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