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2022 (10) TMI 1012 - 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:- This Adjudicating Authority is satisfied that: a. Existence of operational debt is above Rupees One Crore. b. Debt is due and defaulted. c. Default occurred on 02.02.2022 and continuing, d. Demand Notice dated 18.02.2022 has been served at the Registered and Administrative office of the CD and proof of delivery of notice has been filed by the OC/Applicant. e. Petition has been filed within the limitation period, as the default date is 02.02.2022 and onwards when the petition under Section 9 of the IBC has been filed on 22.03.2022 f. Existence of dispute prior to the issue of demand notice is not found. The application filed by the Petitioner under Section 9 of the IBC is found to be complete for the purpose of initiation of Corporate Insolvency Resolution Process in respect of the Corporate Debtor - the petition filed by the Operational Creditor under Section 9 of the Insolvency & Bankruptcy Code, 2016 is hereby admitted for initiating Corporate Insolvency Resolution Process in respect of the CD-Matiz Metals Private Ltd. The date of admission of this petition is 30.09.2022. Applicaton admitted - moratorium declared.
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