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2022 (5) TMI 873 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT:- It would be clear from the record that the Corporate Debtor did not respond to Section 8 Notice served on it, which was an opportunity provided to the Corporate Debtor to place its defence by informing the Operational Creditor about any payments as and when made, out of the outstanding operational debt being claimed by the Operational Creditor - The amount claimed is outstanding on account of the supplies made, and payable by the Corporate Debtor to the Operational Creditor. Section 8 Notice has been duly delivered but not responded to by the Corporate Debtor. The pleas taken by the Corporate Debtor as regards preexisting disputes are not convincing, and are therefore rejected. The application filed by the Operational Creditor under Section 9 of the Insolvency & Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against the Corporate Debtor, is hereby admitted - moratorium declared.
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