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2022 (10) TMI 430 - NATIONAL COMPANY LAW TRIBUNAL , CHANDIGARH BENCHMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - whether the present application is filed within limitation? - HELD THAT:- It can be seen from the records that the date of default is 03.05.2019 and the present petition is filed vide Diary No. 93 dated 06.01.2020. Therefore, the present petition is filed within limitation. Whether there is default in payment or not? - HELD THAT:- It is observed from the record that in the present case, the default is evidenced by the copy of the loan agreement (Annexure-VI), promissory note (Annexure-VIII), three cheques issued by CD (Annexure-X), Cheque returning memo (Annexure-XI), ledger account (Annexure-XIV) are attached with the main petition. The respondent corporate debtor has been proceeded ex parte, thus, there is no rebuttal to the claim of petitioner. The application filed in the prescribed Form No.1 is found to be complete. Another condition is that there are no disciplinary proceedings pending against the proposed Resolution Professional. In the present case, in Part III of Form 1, Mr. Satyendra Sharma has been proposed as Interim Resolution Professional. The present petition being complete and having established the default in payment of the Financial Debt for the default amount being above threshold limit, the petition is admitted in terms of Section 7(5) of the IBC. Moreso, the respondent has admitted the claim and expressed its inability to pay back the debt. Accordingly, moratorium is declared in terms of Section 14 of the Code. Petition admitted - moratorium declared.
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