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2022 (7) TMI 928 - NATIONAL COMPANY LAW TRIBUNAL , MUMBAI BENCHMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues- Financial Creditors - existence of debt and dispute or not - HELD THAT:- The Amazon.com NV Investment Holdings LLC has filed an Intervention Petition/1/2022 in CP/527/MB/2022 seeking investigation into fraudulent and malicious intention of the present proceedings by the Financial Creditor and to dismiss the present petition by imposing penalty on the Financial Creditor and the Corporate Debtor in accordance with Section 65(1) of the Code, same has been dealt separately vide order dated 20.07.2022. Moreover, the Corporate Debtor on the payment obligation under the OTR scheme, admitted the default of its repayment as on 31.12.2021. Further, on 04.02.2022, the Corporate Debtor admitted in its meeting with the Lenders that the Events of default continue to subsist. Furthermore, the Corporate Debtor issued an intimation under Regulation 30 and other regular regulations of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 admitting the default of its repayment obligations under the Framework Agreement as on 31.03.2022 as well as 31.12.2021. This Bench is of the view that the existence of debt and default has been proved - petition admitted - CIRP is ordered to be initiated - moratorium declared.
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