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2022 (10) TMI 146 - Tri - Insolvency and BankruptcyMaintainability of petition - 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:- On perusal of records it is seen that the Petition was filed on 13.07.2021 and the last payment was received by the Operational Creditor from the Corporate Debtor on 18.10.2019. Thus, in view of this, the Petition squarely falls within the period of limitation i.e. 3 years as prescribed u/s 18 of Limitation Act, 1963. The application is complete and has been filed under the proper form. The debt amount is more than Rupees One Crore and default of the Corporate Debtor has been established and the application deserves to be admitted. Petition admitted - moratorium declared.
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