Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2022 (7) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (7) TMI 313 - NATIONAL COMPANY LAW TRIBUNAL , KOLKATA BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - Time Limitation - HELD THAT:- In the present case, it is clear from the facts that the Corporate Debtor had admitted its liability and had agreed to pay Rs.1,00,000/- per month for 42 months in the proceeding filed before the Hon’ble High Court of Calcutta. The Corporate Debtor, however failed and committed default in payment of the instalments - Even in the reply to the notice under section 8 of Code served on the Corporate Debtor by the Operational Creditor, the Corporate Debtor could not give any notice relating to any dispute as regards the unpaid debt or any suit having been filed or Arbitration Proceedings regarding the said claim of the Operational Creditor. Time Limitation - HELD THAT:- Since the Corporate Debtor had sought orders from the Hon’ble High Court for making repayment of the loan which was passed on 21st November, 2016, and the present petition having been filed on 19th July, 2019, this petition is very much within time. Thus, the Operational Creditor has proved its case without any doubt - Since the petition is otherwise complete in all respects, petition is admitted - moratorium declared.
|