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2022 (5) TMI 802 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - time limitation - HELD THAT:- In the instant matter, the Corporate Debtor had time and again acknowledged the debt within limitation period in their financial statements for 2018-19 and again 2019-20 and their last offer letter of compromise/one time settlement for outstanding dues dated 30.08.2021 to the State Bank of India through their deputy general manager. Present application is filed on 02.11.2021, therefore, the present Application is within the period of limitation and not barred by law - The Registered Office of the Corporate Debtor is situated in Union Territory of Dadra & Nagar Haveli and therefore this Adjudicating Authority has jurisdiction to entertain and try this Application. The present Application being complete in terms of Section 7(5) of the Code we admit the application and initiate Corporate Insolvency Resolution Process of the Corporate Debtor - Application admitted - moratorium declared.
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